On November 4th, Alabamians approved Amendment One, which I hope was the right thing to do. Its passage will give Gov. Riley authority to borrow as much as $625 million from the Alabama Trust Fund. However, the borrowed money will have to be repaid. The Governor says this vote was needed to balance this year’s education and general fund budgets. But, even with the borrowed money from Amendment One, I believe other revenue measures will be needed during next year’s legislative session to keep government afloat. Amendment One allows state officials to borrow money from a state savings account called the Alabama Trust Fund and pay it back in future years. I had mixed emotions about this amendment and voted against it. I just don’t like the concept of borrowing from the trust fund. Hopefully, I was wrong. We seem inclined to keep using the patchwork approach to funding state services and dealing with problems facing our state. While politically it may make sense to borrow this money, this approach just puts off making some tough fiscal decisions that eventually will have to be made.
Source: Associated Press
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