Column :Spend state’s budget surplus? We’ve been there, done that

Back in 1998, the state of Indiana had more than $1.3 billion in surplus funds in its general account.

This was about 57 days of state spending. The state had total surplus funds of more than $2 billion, which was over 24 percent of its annual operating revenues.

I remember the cries of the time: The state should not be a bank, social spending has been cut to the bone and must be increased, taxes should be cut in the presence of such a “structural” surplus, and, of course, education spending should be increased at all levels.

This story appears in the print edition of The Tribune. Subscribers can read the entire story online by signing in here or in our e-Edition by clicking here.

All content copyright ©2016 The Tribune, a publication of AIM Media Indiana unless otherwise noted.
All rights reserved. Click here to read our privacy policy.