Originally published in the Pittsiburgh Tribune-Review
Gov. Tom Wolf recently declared 2022 a “magical year” for the Pennsylvania budget, citing the possibility of a surplus. However, Pennsylvania’s Independent Fiscal Office (IFO) predicts this “magic” will not last long. The IFO’s latest Five Year Budget Outlook projects that the state will return to a deficit by fiscal year 2023-24.
That’s because our budget surplus didn’t result from a strong economy and growing tax base — it’s a counterfeit surplus partly driven by federal aid and debt. Rather than spending that money to expand government, lawmakers should consider the future and budget responsibly. Irresponsible spending has a clear consequence: our most productive residents will simply leave. New data from the United States Census Bureau indicates that many former Pennsylvanians already had enough of Wolf’s big government policies.
Read more in the Pittsburgh Tribune-Review