New BTC report highlights need to invest for the long term
The Budget and Tax Center is out with another excellent report today on the importance of disciplined contributions to the state’s “rainy day fund” – especially when economic times are good. This is from the report:
“The failure to save adequately during times of growth has limited the ability of the RDF to help address budget shortfalls during economic downturns, leading to painful cuts to public investments and services, which hurts the state’s economy and causes hardship for families struggling during times of economic distress.”
In other words, as with so many areas of the state budget, it’s critical to invest for the future and stop focusing on short-term quick fixes (as Democrats so frequently felt compelled to do in the past) and obsessing with budget cuts and tax giveaways (something that’s become akin to a religion for the Republicans running the show now).