From
The McCarville Report Online
State Senator Randy Brogdon, R-Owasso, says today that claims by Governor Brad Henry, Democrat seeking reelection, that he replenished the Rainy Day Fund and improved the state budget don't match the facts. Brogdon said, "overspending by Brad Henry sent the state spiraling downward" in years past. He said the Rainy Day Fund ran dry "because big spending politicians like then-Senator Henry spent hundreds of millions" and thus, set the state up for budgetary problems. Henry's first television commercial of the general election campaign is based on his claims that he met the financial crisis the state faced in his first year in office and that he presented a balanced budget and filled the once-depleted Rainy Day Fund.
Full text of press release from Sen. Brogdon's office:
NEWS RELEASE
For immediate release – August 29, 2006
SETTING THE RECORD STRAIGHT: “Brad Henry’s Spending Spree Drained the Rainy Day Fund”
Oklahoma City– State Senator Randy Brogdon says over-spending led by Brad Henry sent our state spiraling downward during what Henry now describes as the “biggest budget crisis in our state’s history”.
“Governor Henry points out that when he first took office as governor, the ‘Rainy Day Fund’ ran dry during our most recent budget crisis,” Brogdon noted. “But he doesn’t point out that the fund ran dry because big spending politicians like then-Senator Henry spent hundreds of millions of dollars from the fund when revenue was strong in the late 1990s and no emergency existed.”
Brogdon, R-Owasso, continued, “When our state faced what the Governor calls the ‘greatest budget crisis in our young state’s history’ it was because he and other big spenders could not keep their hands out of the cookie jar. They spent every dime they could grab.”
Brogdon said it is unbelievable that Governor Henry now wants to expand the reserve fund so there will be even more taxpayer dollars at risk. Last year he even suggested spending $30 million from the Rainy Day Fund to celebrate the state’s centennial birthday.
In contrast, Brogdon says a constitutional amendment to limit spending and create a new emergency fund with stronger controls on how and when the money is spent is needed to keep the legislature and the governor from over-spending.
“Increasing the rainy day fund as proposed by some will only give the politicians more taxpayer’s dollars to spend on their wish list. History has proved that robbing the rainy day fund causes deeper budget cuts in an economic downturn,” he said.
The Owasso Senator says that a constitutional amendment creating an emergency fund would ensure better spending practices by the legislature.
Brogdon characterized the current setup of state emergency reserve funds as little more than a slush fund, used to top off big state spending sprees. “We currently allow the governor and the legislature to spend a percentage of the Rainy Day Fund at anytime, for any reason. That is bad government and it has to stop,” said Brogdon.
“The better choice for Oklahoma is for the legislature and the governor to stop over-spending, and to provide for a secure, constitutional emergency fund that will benefit taxpayers, not pork barrel spenders,” said Brogdon.
According to Brogdon, a proposed new constitutional emergency fund will provide safeguards for taxpayers so that money designated for emergencies will only be used in emergency situations. Additionally, this will stop other wasteful spending and ensure fiscal responsibility.
Brogdon contends that eliminating the Rainy Day Fund and replacing it with a true emergency fund will stabilize the budget, put an end to massive budget cuts due to revenue shortfalls, and ensure Oklahoma will be able to meet its obligations to its citizens for future generations.
Posted at 8/29/2006 01:22:00 PM
