Spend this year that which you took in last year.
No budget shortfalls. No "rainy day funds." No gimmicks. No shenanigans. No red ink. No national debt.
What??!! We can't do that! What if ...! What about ...! Calamity! Katrina! Stimulus! War! Pestilence!
Stop your whining and do it.
Now you know why I don't run for public office. I don't whine and I don't countenance those who do. Especially while they're on my payroll.
But get this. There is a politician, one with some serious cred, who agrees with me. A Californian, no less. And check out his bio, as provided by columnist George Will:
He has a Harvard law degree and a doctorate in economics from the University of Chicago, where his faculty adviser was Milton Friedman. He clerked for Supreme Court Justice Byron White. Working in the Reagan administration in 1983, in the wake of a severe recession, he assumed Reagan would lose in 1984 ... and accepted a professorship at Stanford's law school. He represented Silicon Valley in Congress for five terms.His name, so you know, is Tom Campbell. And he's running for governor of California.
Here's the point:
"He favors resetting the budget cycle so that the state would accumulate one year's revenue to be spent the following year, when precise knowledge would replace wishful thinking about available revenue."
Among other really sound ideas.
"But we can't do that!! Calamity!! Katrina!! Swine flu!! Jock itch!!"