It’s only June of 2005, and Virginia seems to have spent next year’s surplus already — twice.
One plank of her housing platform commits her to: “Apply any major city budget savings to build affordable housing.”
But in her budget talk today, pitched to the hawks of the Citizens Budget Commission, she made a commitment to pay down debt “with $600 million of this year’s surplus. I will allocate $200 million to double the amount of our capital budget on a pay-as-you-go basis. I will use the remaining $400 million to begin paying down debt.”
Isn’t this the same money? Are we missing something?