Monday, October 6, 2008

We like numbers. And the numbers say we need SAFE!

In case you needed a real time example of why it's important to save when times are good so you don't have to make drastic cuts when times are bad, COFPI did some analysis of the state's September 2008 revenue projections.

You'll notice that there's a $100 million reduction in FY 2008-2009.

You'll also notice that it was reported last week that Governor Ritter issued a state hiring freeze and halted various capital construction projects.

Coincidence? Not so much.

And while a halt in government spending might not sound so bad on the face of it, consider that one of the things being cut is full-day kindergarten, which is also one of the most effective investments in economic development that the state can make.

Moral of the story: save when times are good, so our kids and our economy don't have to suffer devastating cuts when times are bad. That's exactly what Amendment 59 forces state government to do by creating a Savings Account for Education (SAFE).

No comments: