Washblog

Gregoire to push for rainy day fund

The thing about running and end-around is that you'd better hope the other team isn't ready, because the high risk play can blow up in your face. Its maybe time for the Republican QB, whoever that is, to audible their way out of the Rainy Day Fund end-around:

Gov. Chris Gregoire wants a constitutional amendment to reserve some of the state's nearly $1.9 billion budget surplus in a protected rainy-day fund.
Sen. Margarita Prentice, D-Renton, the influential chairwoman of the Senate budget committee, said Monday that Gregoire would announce the proposal today as part of her series of budget rollouts across the state this week.

"We believe we're being responsible, wanting to set money aside," Prentice said. "I was a Depression kid. I really do believe in setting money aside and living within your means."

 Not that I think Gregoire is reacting to the Sen. Joe Zarelli's filing, it is just a good idea.

Update [2006-12-12 14:6:38 by emmettoconnell]: Here is the press release from the governor's office:

Governor Chris Gregoire today at a Washington State Employees Credit Union in Seattle announced she will get the state off the spending rollercoaster by saving money today in a new rainy day fund so that Washington is better prepared for possible economic downturns in the future.

“The Washington rainy day fund will work just like your family savings account. We will build it up with automatic deposits when times are good and we can feel secure knowing that there is extra money available to meet basic needs if times suddenly turn bad or if a disaster strikes,” said Governor Gregoire.

Audio after the jump.

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fiscal conservative and democrats have set aside many rainy day funds in the past. We will see the details soon but I expect the plan will not include a 601 like mandate since a rigid plan cannot limits the flexability government needs in order to address the ever changing challenges this state faces from year to year.
I also expect that regardless of how much the D's put into the fund, the R's will say its not enough.
We will see more good policy this year but this piece must drive the GOP leadership just a bit crazy.
Can we play chess?
Oh ya, I think we know the game.

by Particle Man on Tue Dec 12, 2006 at 10:27:22 AM PST

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This is exactly the type of ideas we should be pursuing with the large majority that we now have in Olympia.  Structural reforms such as these can make a larger contribution to progressive change over the long term than the types of short-term fixes we have usually pursued (and had to pursue in the past with our slender majority).  Other structural reforms that are needed include initiative reform, tax reform, and additional campaign finance reform.

by EWVoters on Fri Dec 15, 2006 at 02:27:49 AM PST

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