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« Citizen Journalist Hit With Lawsuit | Main | Life Goes On » April 27, 2006Right Then, Wrong Now
Venture capital is money invested with the potential for reaping gains in the future. Gov. Bredesen is proposing to spend one-time money on a recurring program that may eventually cost Tennessee taxpayers hundreds of millions of dollars per year. He has no long-term funding plan, and no idea of how much the program will cost. That's no different from the stupid fiscal practices that caused the state's late-1990s budget crises and led the previous governor to propose a whopping new state income tax. Spending one-time funds on a new recurring program surely isn't venture capital. What it is, is fiscally reckless. And that's what Gov. Bredesen would have called it four years ago when he was running for governor. He was right then, wrong now. Posted in Tennessee Government News
Comments
And he did something similar in expanding the pre-K program utilizing lottery funds. Lottery funds are no where near a dependable source of income, in fact you have to fight hard to keep it level as folks realize how much they're losing, but proponents overlooked that inconvenience and got their $25 million, for now. They'll be back to fight cutting this program and expanding it soon enough. Previous pre-K/lottery post by Bill Hobbs Posted by: Kay Brooks at April 28, 2006 6:25 AMUmm, Kay, they aren't going to fight cutting the program. They have plans to expand it to $55 million this year and eventually $300 million. "If Gov. Phil Bredesen gets his way, Tennessee will be spending about $150 million a year for pre-kindergarten by 2010." "In light of research findings that overwhelmingly support the benefits of pre-kindergarten" (www.preknow.org) What a pile of $%&#! Google pre-K failure and you'll get a ton of articles and studies that dispel this Marxist agenda. If it isn't required, an ethics course should be added to the teaching curriculums in college. Posted by: Rick Forman at April 30, 2006 1:43 AMPost a comment
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Back when Phil Bredesen was running for governor, he frequently criticized the lame-duck incumbent for having spent one-time funds to pay for recurring programs, a practice Bredesen was right to note was a fiscal mistake. Now, however, that Bredesen is proposing to spend one-time funds to pay for a new healthcare entitlement program whose costs and future long-term funding are unknown - he's not calling it a fiscal no-no. 