By Tiffany Harbridge
So between various tax cuts and the various methods that I have cited, Mr. Romney seems to have left behind a surplus – on paper. Actually, Mr. Romney managed to leave Massachusetts with an additional one billion dollars of debt. This is not even taking into account two other major factors:
1) The budget on paper does not even begin to address the off-budget spending that this state has engaged in for more than 20 years. Those figures would raise the hair on the neck of every tax-payer in the country if they were to become more familiar with them. That is almost impossible to do, because they do not disclose it-ever. The best figure I could find for our purpose right now came from Massinc.org with this lovely nugget:
‘Since 1987, the share of total state spending that occurs outside the annual budget has increased from 20 percent to almost 33 percent, creating confusion and a lack of transparency. In FY 2006, the state’s budget was $25.6 billion, but total state spending was $37.5 billion. There is not consistency regarding what spending is on-budget and what is off-budget. In recent years, some spending for health care, employee pensions, public transit, and school construction has been removed from the state’s annual budget.’
2) The boondoggle Romneycare legislation that he instituted (and that Obamacare is modeled after) left a dangerous and dangling avalanche of cost-prohibitive and damaging fiscal responsibility looming over the tax-payers of this state and the entire nation. The issue of Romneycare will be addressed in a future post in more detail. For now I will let you in on a couple of the facts that history will show as Mr. Romney’s legacy here in ‘Bankruptcyville’:
Courtesy of thenewamerican.com; Former Massachusetts Governor Mitt Romney’s highly touted RomneyCare has cost Massachusetts some 18,000 jobs, reduced investment in the state by tens of millions, raised health care costs, and lowered per capita disposable income, according to a computer model study by the Suffolk University-based Beacon Hill Institute.
The astronomical costs associated with this legislation are literally bankrupting the state. The federal government and the rest of the nation’s tax-payers are on the hook for the skyrocketing costs of supporting the law. This from Doug Bandow of Realclearpolitics.com in 2009: “However, paying for more benefits for more people inevitably makes medicine more expensive. Costs for Commonwealth Care, the Massachusetts government’s subsidized insurance program alone are up a fifth over initial projections. Last year State Treasurer Timothy P. Cahill wrote: ‘The universal insurance coverage we adopted in 2006 was projected to cost taxpayers $88 million a year. However, since this program was adopted in 2006, our health-care costs have in total exceeded $4 billion. The cost of Massachusetts’ plan has blown a hole in the Commonwealth’s budget.’”
Indeed, Carla Howell, president of the Massachusetts-based Center for Small Government, is blunt about Romney’s record: “Romney claims to have cut the Massachusetts budget by ‘2 billion.’ Sometimes he claims he cut it ‘3 billion’….but these cuts were merely budget games….not only did Mitt Romney refuse to cut the overall Massachusetts budget, he expanded it. Dramatically….Romney initiated massive new spending –without any prodding.”
Within the above cited article written by Club for Growth: “In late 2009, the year after his run for president, Romney wrote an article outlining a 10-point plan to boost the economy. It included pro-growth tax policy ideas like blocking the expiration of the 2001 and 2003 tax cuts, but most of the suggested tax cuts were temporary, which would have provided little spur to long-term growth.”
A chilling quote from Mr. Romney himself: As reported in the Washington Examiner, in a February 2007 speech, Romney said, “If Massachusetts succeeds in implementing it, then that will be a model for the nation.”
Sounds to me as though Mr. Romney wants to apply his same old brand of fiscal deception on a national scale. With a much bigger budget and oh, so many more pockets to pick on a national scale, who knows what Mr. Romney can do? Are we about to trust this man with our finances? After looking at the condition of the state that he left behind, I firmly believe we cannot afford to play the three-card-Romney game on the national level.