Balance is defined as equilibrium, an equalizing of weights. We believe that balancing a budget should also involve a weighing of options, which means adding revenue in these difficult times.
Local governments in our region all face difficult fiscal conditions. DC’s shortfall for next year is projected at $400 million, and Virginia and Maryland estimate a deficit in the billions.
There are sensible steps all three jurisdictions can take to add revenue and help ease the pain of these challenging economic times. If you haven’t already, read about them in this Washington Post Op-Ed from the DC Fiscal Policy Institute, the Commonwealth Institute for Fiscal Policy, and the Maryland Budget and Tax Policy Institute.
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/23/AR2010012302680.html
