Vermonters for Economic Health

Today's (June 30, 2009) Burlington Free Press has a My Turn piece by Peter Hood. In it he plants the responsibility for the failure to encourage job creation and a healthy economy as we exit this dire recession squarely in the laps of legislative leadership.

We hope that Vermont's fiscal health will not 'crash and burn' as may happen in California and also in New York and New Jersey to change the profligate spending culture. Many Vermont legislative leaders who are the money committee chairs have ruled over this our out-of-control spending culture for many years and should be replaced. The legacy of this legislature's leadership without Federal stimulus infusion would be dire indeed. The future condition of state finances is bleak as has been shown by both the Joint Fiscal Office and the Douglas Administration.

We believe that different leadership with a far more restrained spending agenda is needed in Vermont. We intend to work toward that end with other like-minded economic realists who know that private sector job growth and a much more efficient government is essential to Vermont's economic health.

Here's an excerpt of Peter Hood's My Turn. We encourage you to read it all.

[One clarifying note: the legislature has not created a 'deficit' in the strict sense of the word. The budget is larger than last year but 'balanced' by a combination of Federal stimulus money and an increase of ~$26 Million increase in taxes for FY2010.]

"The Legislature has repeatedly refused to break down barriers to job creation and instead imposed higher taxes, created a budget deficit and left future generations holding the bag. They even refused to require able-bodied welfare recipients to look for work every 5 years, and then voted to give themselves a pay raise.They are a no-growth "our party knows best" Legislature. They are holding Vermonters -- and more importantly our economy -- down. They are stifling economic innovation with the same tired policies of the past that ask more from working Vermonters and less from those supported by taxpayers."

"They also chose to raise taxes and increase state spending on discretionary programs, while leaving a $64 million deficit for the next fiscal year and a $200 million deficit for the year after. Higher taxes and record breaking deficits are grossly irresponsible and will slow our economic recovery."