Sunday, August 20, 2006

That darn economy

From the Boston Globe: “Most states reporting big budget surpluses

It's tantamount to finding a wad of cash buried in the pocket of an old jacket -- utter euphoria at the windfall, mad money to splurge on a one-time extravagance.

Only this find is breathtakingly huge.

For first time since Sept. 11, 2001, the vast majority of states reported that they saved an average of 10 percent of their budgets, one of the highest percentages of unspent money in decades. The $57 billion in unexpected revenue has afforded states an opportunity to find all sorts of creative ways to spend and save their cash, according to a report released last week by the National Conference of State Legislators.

All but five states -- Illinois, Kansas, Louisiana, Michigan, and Wisconsin -- reported surpluses this year.
New Mexico is going to blow their mad money on a launch pad for space commuters.

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