“This idea of cut, cut, cut can get out of control,” [Rep. Paul] Haire told a reporter. “Cutting spending also cuts jobs, which stimulate the economy. You can’t improve the economy unless people have money to spend.”
True enough!
VSEA ERN Committee counted the votes on Aug. 11.
"The state has socked away $60 million in the stabilization reserve fund and $30 million in the human services caseload reserve. We have $10 million set aside for federal cuts to the Low Income Heating Assistance Program. Revenues are back up 11 percent ahead of last year’s tax receipts. And our credit rating is the second highest in the country."
"If the Super Committee fails to reach agreement, $1.2 trillion in spending cuts will be made automatically starting in 2013, through what’s known as the “trigger.” That would actually be good news for quite a few state programs that rely on federal funding."
Spaulding’s Press Release Includes The Following:
"The big question at this point is how the events playing out in Washington DC and global financial markets will affect [Vermont’s economic] recovery,” Spaulding commented.