Governor McDonnell Gives Statement on Virginia’s Conservative Budgeting

Yesterday Governor McDonnell, legislators, and administrative officials met with Bond Rating firms in New York City.  Following the meetings, the governor issued the following statement:

“Virginia has established a firm reputation as a state committed to fiscally responsibility and smart, conservative budgeting.  In recent years we have overseen the posting of four straight budget surpluses totaling nearly $2 billion. We have passed the state’s first major transportation funding plan in over a generation. We have reduced the future liability in our pension system by $9 billion. We have invested in the Rainy Day Fund, and it is on pace to exceed $1 billion by the end of FY 2016, which will be the third-largest balance in the history of the Fund. Working on a bipartisan basis we have taken bold steps to strengthen the state’s fiscal position and encourage private-sector job creation. This work has put Virginia in a very strong economic position moving forward.”

Given the dysfunction in Congress, maybe it’s time they looked across the Potomac and took notes on how effective government can be when both parties work together for the good of their constituents.  In Virginia, we know the importance of bipartisanship—which is precisely the reason we employ fiscally conservative principles.

Financial prudence isn’t a partisan game.  When you spend other people’s money, you should always ensure it is being spent in the most efficient and responsible fashion.  This is what we have done in Virginia.  And as the Governor has pointed out, it works!

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