Let’s talk about Rainy Day funds for government. I think they’re a bad idea.
I keep hearing about Rainy Day Funds. Governor Kulongoski talks about them. Mayor Potter does. Practically every government in Oregon would like to have a Rainy Day Fund. Most governments have rainy days all the time. Vallejo, California just went bankrupt for goodness sake.
Rainy Day Funds are a bad idea and here’s why. You pay government taxes to provide you with services””fire, police, jails, courts, and of course, schools. If they hold back some of that money it means they’re not providing you with the service that you are paying for.
If they hold it back to put it into a fund, so that when the general economy declines and you’re not sending in as many taxes, they get their full salaries. Well, that’s just dead wrong. Government is held harmless in the middle of an economic downturn. While average families are cutting back government gets to live high on the hog. That shouldn’t be happening.
Never. No Rainy Day Funds.