Budget Surplus for Virginia

On August 20, 2013 in the Governor’s Annual Address to Virginia’s Joint Money Committees, Bob McDonnell announced a $585 Million budget surplus for this fiscal year, the fourth surplus in four years for the McDonnell Administration.  This made the cumulative surplus total for Virginia under Governor McDonnell’s leadership at a staggering $2 Billion — the highest four year stimulus total in the Commonwealth’s history!

This concludes a turnaround for Virginia, as Bob McDonnell was facing a $6 Billion budget shortfall when he took office.  Instead, Virginia finds itself on its strongest fiscal footing in decades.

This turnaround was not an accident, but rather the result of Governor McDonnell working with members of both political parties to solve Virginia’s fiscal challenges.  In his address, the Governor also noted that general fund spending in Virginia has increased only 0.3% over the last six years, far below the rate of population growth and inflation.

While our nation’s capitol is plagued by a never-ending federal debt crisis, Governor McDonnell is demonstrating the leadership, vision and commitment needed to solve Virginia’s most pressing problems.

Way to go Governor McDonnell!

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