Colorado Democrats are the True Fiscal Conservatives

Discussion in 'Politics' started by Magnetic Poles, Mar 24, 2008.

  1. Magnetic Poles

    Magnetic Poles
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    Democrats in Colorado pushing for the state to save more for a rainy day. Guess they are the true conservatives.

    "We don't mint money at the Capitol. It has to come from somewhere," said Romanoff, one of the would-be sponsors. "

    CLICK HERE
     
  2. Revmitchell

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    What do they want to save for?n casse they have a short fall to support their liberal social programs? Nothing conservative about that. It is just more Robinhood disease.
     
  3. Magnetic Poles

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    So if they spend on social programs, they are tax and spend socialists? If they save instead, they are really just wanting to spend it? What kind of doublespeak is that? Actually, Colorado Democrats are fairly conservative. But by your standards, Barry Goldwater was a flaming leftist commie!
     
  4. dcorbett

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    The Tabor Amendment has been proven to be a municipality nightmare. Thanks, Mr. Bruce. You poisoned our state and local budgets.

    Other than that, I don't see a specific party doing anything good or bad. What are you referring to? I am a Republican, by the way.

    Debbie Mc
     
  5. Magnetic Poles

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    What does that GOP Nutjob Bruce have to do with the article. Stay on topic. Read the article.
     
  6. TomVols

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    Quote from the article:

    "During the previous downturn, lawmakers drained and never refilled pools of money set aside for unemployment insurance, care for veterans and other special causes. "

    Herein lies the problem with politicians: they want what they want, but only when they think it will score them points. (1), Why didn't they use tobacco settlement funds like most states did to seed their rainy day fund (of course, many then subsequently raided and spent it), and (2) Where was the fiscal restraint when the lawmakers felt compelled to spend their savings without thinking of tomorrow? It's like people who come in my office who have debt up to their eyeballs, no real disposable income, but want to start an ESA, Roth, etc. You can't do it unless you fail to pay your mortgage. Sometimes you have to accept reality - there are consequences to your choices. You can't save for a rainy day after it starts raining.

    I applaud the lawmakers for wanting to save for a rainy day. I chide them for failing to do so when the sun was shining.
     
  7. Magnetic Poles

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    Actually, it is not their fault. As Debbie mentioned, we have TABOR here in Colorado that requires excess funding be returned to the taxpayers. It has put the state in a real bind. TABOR for those who don't know, is an acronym for TAxpayers Bill Of Rights.
     
  8. TomVols

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    And I somewhat tend to approve of these arrangements, if you will. Force states to live within their means and spend wisely. I'm not against rainy day funds. But here again, I fault the states for squandering tobacco settlement money and spending like petulant Trust Fund babies and then believe the taxpayer sugar daddies will bail them out. Fiscal discipline has to come into play sometime. Knowing that excess revenues will make their way back to the people (GASP) means you have to tighten your belt, something politicans of all stripes have never learned. Politicans cannot blame legislation that they and/or the people approved for depriving them of a fund to raid so they can pay for more perks or some bridge with a senator's name on it, only to then wring their hands like a stricken poet when the money is gone becuase of the unfunded children's/veterans/Fill in the hot-button-blank here/ obligation.
     
    #8 TomVols, Mar 24, 2008
    Last edited by a moderator: Mar 24, 2008
  9. Magnetic Poles

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    Philosophically, I agree. However, there have been severe unintended consequences. Many things that are longer term projects (e.g. highway infrastructure) are hurting. TABOR is way too strict, and IIRC, it was an intiative and referendum, not a legislative action. The idea is sound...the implementation has been horrible.
     
  10. Magnetic Poles

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    From : http://www.ncsl.org/programs/fiscal/taborpts.htm

    TABOR is principally a revenue limit, not a spending limit. It limits revenue the state government can retain from all sources except federal funds in a year to the previous year's allowed collections (not actual collections) plus a percentage adjustment equal to the percentage growth in population plus the inflation rate. Any revenues received in excess of this limit must be refunded to the voters. In this paragraph, allowed collections means the amount that the Tabor Amendment allowed state government to retain in the previous year.

    and

    TABOR prevented the creation of a state rainy day fund through implication as well as its requirement that revenues in excess of a limit be returned to the voters. Reserves of 3 percent of the general fund are allowed, but any use must be repaid in the following fiscal year. Thus the reserve fund is more in the nature of a cash-flow reserve than a rainy-day fund.
     
  11. TomVols

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    Just out of curiousity, how does a referendum reach a ballot in Col? Does the legislature have to approve it?
     
  12. KenH

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    Fiscally, yes, the Democrats are more conservative compared to Republicans nowadays.
     

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