Today’s Wall Street Journal reports Virgina State Governor Robert McDonnell has led their economy to a budget surplus of $400 million for 2010. Just two years ago the state faced more than a $4 billion deficit.
How was this accomplished? As reported, Governor McDonnell blocked a $2 billion proposed tax increase by former Democratic Governor Tim Kaine. Then he cut spending government spending to 2007 levels.
Companies who want to stay in business understand spending cannot exceed revenues. It is rare today to see a government leader demonstrate fiscal responsibility. This report is very refreshing news. Congratulations Governor McDonnell on your persistent economic leadership.
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About: Steve Pohlit CPA,MBA has been the CFO and COO of major domestic and international companies. Steve has extensive business ownership experience having purchased and started off line and on line businesses. Steve offers his business building experience to companies and entrepreneurs with business coaching and business consulting. His focus is on building business profits and net asset value at above average rates. All articles published by Steve unless specifically restricted may be freely published with this resource information.