In the black: Good decisions pay off in ConcordEDITORIAL
October 14. 2017 6:02PM
The New Hampshire Treasury is in its best shape in decades.
Budget writers shouldn't get cocky just yet. There are plenty of icebergs still ahead.
Following the Lynch administration's budget crisis, Republicans took control of the State House and started making tough, sound financial decisions.
Six years later, those decisions are paying off. The Rainy Day Fund has been topped off at $100 million. Business tax rates are falling, as business tax revenues continue to beat expectations. There's even a surplus to help local school districts with building aid after the Lynch administration was forced to suspend that program.
Republicans in Concord should take a bow, and resist the temptation during good times to go on a spending spree.
The Legislature can't count on revenues always going up.
The bill from the Legislature's decision to massively expand Medicaid to working adults is coming due, with expenses running ahead of projections even as the state share of the program's cost increases.
We have no idea if Keno players will lose enough money to pay for the Legislature's promises of increased aid for full-day kindergarten.
Fiscal discipline dug state government out of an $800 million hole, and gave us the rosy budget numbers. Continued fiscal discipline will ensure we don't start digging a new hole for ourselves.