Libertarian Robert Burke: GOP and Dems both fiscally irresponsible
Dear Editor: Last week, readers learned that Wisconsin tax collections for the last fiscal year were down 2 percent from projections and by over 1 percent from the previous year. In January, as legislators were high-fiving the rainbow and unicorn projections for revenues, I was asked what I would do with the projected budget surplus. My response was to place it in reserves as Wisconsin would face tough times ahead.
Wisconsin politicians on the Red and Blue teams have been unable to set aside enough of the short-term revenue growth that comes in during an economic boom to avoid later tax increases and/or spending cuts when the economy turns sour. State reserves are expected to drop to 8.6 percent of spending this year and to 7.4 percent next year, according to experts in the Wisconsin Taxpayers Alliance.
Rather than use increased revenue to pay down the $13.7 billion in debt accumulated during the last decade or rebuild General Fund reserves, the Blue Team wanted to spend it and the Red Team wanted to reduce taxes. Dealing with debt continues to be a bipartisan abdication, according to Dale Knapp, research director at WISTAX.
Wisconsins budget balances are declining from 5.3 percent of spending last year to 1 percent next year. That's close to the level Wisconsin carried at the beginning of the last recession, which led to our increased long-term debt. Budget experts recommend savings of at least 5 percent of spending. More would be even better. Mary Burke and Scott Walker are not listening.
Out of the four candidates, I am the only one running for governor who is fiscally conservative and socially liberal. I am the candidate willing and able to deal with the impending problems facing Wisconsins economy and I believe, Forward is in the other direction.
Robert Burke
Libertarian candidate for governor
Hudson
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Libertarian Robert Burke: GOP and Dems both fiscally irresponsible