by The Daily Republic
July 15, 2013 at 5:27 pm in The Daily Republic
Gains in the economy, slowdown in services credited.
Tags: Budget, Capitol, state, surplus, updates 6 Comments »
All of you in South Dakota owe thanks to Gov. Dennis Daugaard and former Governor Mike Rounds for their excellent conservative leadership! That is why you have a surplus!
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South Dakota is open for business unlike Minnesota.
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How much is Federal money?
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Don Corleone, the answer to your question is zero. Some of SD’s surplus may be attributable to tax dollars extracted from someone outside of South Dakota and redistributed by the Federal Government, but that is a distribution process. The Federal Government’s “money” is accumulated through its power to tax, it doesn’t have its own money. Even the sale of assets by the Federal Government can ultimately be traced back to an original taking of property or tax dollars used to purchase the asset. A large segment of our population either chooses to ignore or is unaware that in order for the Federal Government to spend a dollar it has to have taken (or plan to take in the case of deficit spending) a dollar from a taxpayer.
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Thanks, I wasn’t sure. I had something in the back of my mind from maybe 2008 when things went bad about the state budget and how it balanced was thru money received from the feds. Like this http://www.economist.com/blogs/dailychart/2011/08/americas-fiscal-union. But that money is not used for the budget….correct?
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South Dakotans responsible for state’s budget problem
South Dakota Gov. Mike Rounds has a valid point.
Rounds and the Legislature are already going around and around … about how to handle the state’s budget shortfall for the next two years. Rounds has issued a budget plan that calls for using reserve funds — virtually depleting them — to cover the shortfall in next year’s budget. Many legislators are not happy with that plan as the current forecast is the succeeding budget year will be worse than next year due to the ending of federal stimulus spending. Some legislators are calling for cuts to government spending rather than relying on reserves.
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