Rubbish. A surplus is way more beneficial economically than a deficit.
404,
true, but only when the rates are high, holding a surplus during a low interest rate period is foolish, because it does not work for you. There is no point. It is incumbent on our government policy to make the best choices, declaring a whoopee about surplus (which is tax collected) and then giving it back as a freddo treat is momentary, it does not last, it's a squandering of a potential to convert that surplus into a long lasting capital change, or a better education system.
FYI During low interest periods, it pays to spend more than you earn and gear the debt, (look at some of macbanks crazy vehicles) to take advantage of the low cost of borrowing, now is the best
(well actually three years ago) would have been the best time to commence large cap ex projects, bridges, rail, etc etc I think you would agree we have seen this.
I spent quite some time at (and I agree that they are state problems) state government level and I can tell you that they do not plan for surplus, they plan to spend exactly what they say.
Any amount of money , +/- over or under is poor management.
Why should the Feds give them a cent more until they honour their agreement?
true, but why more importantly , do we have three levels of government , when two would do, fed and local, ditch the states.
I don't care about state or federal, I just want a government that works without having to bicker