Virginia's False Fiscal "Crisis"

Gov. Tim Kaine and members of the Virginia General Assembly are wringing their hands worrying about the $750 million to $1.5 billion budget shortfall Kaine announced recently. "Whoa is me!" they cry.

I hate to break it to them, but there is no revenue "crisis." According to the official Commonwealth website here are tax revenues since 1997:

1997- $17,131,110,511
1998- $17,620,703,141
1999- $19,962,082,932
2000- $21,368,967,256
2001- $23,322,749,017
2002- $23,483,212,825
2003- $24,982,910,876
2004- $26,379,372,090
2005- $29,257,674,193
2006- $31,991,449,302
2007- $35,094,639,443
2008- $36,003,691,176

Budgeted:
2009- $37,634,111,885
2010- $38,321,677,698

As you can see the shortfall would take us back to 2008's $36 billion. But what is more telling is the incredible, irresponsible growth in Virginia tax revenues. Democrats and even Republicans count on us not reviewing these numbers.

Why? Because when you look at that facts you may question exactly what it is that we are getting for the extra $10 billion in tax revenue in just four years (2004 to 2008) or in the doubling of state revenue in about 10 years' time. Remember that's $10 billion in taxes from our paychecks either through income taxes or sales taxes.

The real crisis is the increase in state government spending. We need to identify the unnecessary and wasteful programs created under Governors Kaine and Warner. We need to privatize state-run liquor stores. We need to demand lower taxes and greater fiscal responsibility in the General Assembly.

Don't be fooled. The real crisis is excess government spending! Contact your delegate and state senator to demand they address the spending crisis, cut wasteful programs and lower our taxes.

Thanks to Marc Montoni for the data and thoughts behind this post.