WAMU 88.5 : News

Filed Under:

GOP Lawmakers Rain On Virginia Surplus Parade

Play associated audio

Some Virginia officials caution that residents should tamp down their expectations despite the news of the projected surplus. They say sluggish national GDP growth of less than 2 percent and several state indicators suggest that the economy is slowing down.

Year-to-date state revenues grew ahead of the forecast to 5.8 percent. But they've not increased in all tax categories, and sales taxes for the year fell 2 percent, as consumer spending appeared to slow.

Delegate Joe May (R) says that any surplus is already spoken for through payments to the Rainy Day and state pension funds, and it's unfortunate when headlines use the word "excess."

"When I get asked about this I always start with a sigh, because I know good and well we're not wallowing in money," May says.

Delegate Steve Landes (R) pointed out that huge federal budget cuts could affect Virginia's economy.

"There's no way they can balance that federal budget without looking at the Department of Defense and defense spending," he says.

Virginia is first among states in per capita defense spending, so cuts made to procurement would hit hard, according to Ric Brown, the state's finance secretary.

NPR

'Swiss Army Man' Directors Explain The Symbolism Behind A Farting Corpse

The directors of Swiss Army Man — Daniel Kwan and Daniel Scheinert — talk to NPR's Kelly McEvers about what inspired them to make a movie about a flatulent corpse, and the deeper meaning behind it.
NPR

Can Arnold Schwarzenegger Persuade China To Eat Less Meat?

Like the U.S., China is battling obesity and climate change. So it's urging citizens to eat less meat — and spreading the word with public service ads featuring Hollywood stars.
NPR

Brexit Created Many Losers, But Some Winners Too. Which Are You?

Uncertainty generated by Brexit caused many investments to head south. The Dow Jones industrial average fell 3.39 percent. Still, there were some winners, like homebuyers seeking low-interest loans.
NPR

Shock, Rage And Gallows Humor: A Brexit Backlash On Social Media

Young voters had overwhelmingly voted to remain in the European Union. Now there's a flood of anger from those who accuse older generations of choosing a future they don't want.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.