Let me be clear: if any part of the $60 million of taxpayer money dubbed Vermont’s “rainy day fund” survives this economic downturn, it will be a moral travesty, plain and simple. A moral tragedy laid squarely on the shoulders of all those elected to care for the business of the state and the well-being of its citizens.
Against the cascade of economic disasters, $60 million dollars will not be a cure – only a bandage. But it’s a significant bandage. You can apply a bandage too early – that’s obvious. But a bandage does absolutely no good if its applied after all your blood has run out. By that time, the body is shutting down. The bandage needs to be applied before the last moment, worse-case scenario. That’s equally obvious.
And that’s because letting someone’s blood empty out entirely on the floor has a cascading effect to all the organs of the body. They shut down. Staunching that bleeding when it’s still possible to staunch some of it won’t solve the problem, but it may minimize the cascading damage and keep the patient alive long enough so that other measures can come into play, or until the body starts healing itself.
Any legislator – left, right, center, whatever – who can’t recognize that this is the reality faced by the simplistic, even heartless slashing of critical services that will themselves create an accelerated breakdown of the economy and hurt more people… well, that legislator may not be intellectually up to the task of governing, and is almost certainly not up to the moral responsibility.
As near as I can tell, the Rainy Day Fund serves one purpose and one purpose alone in the State of Vermont. It is a $60 million pot of taxpayer money that lets elected officials feel fiscally responsible. That salves their anxieties about press perception. I’ve seen no coordinated economic ethic in play in these budget-slashing discussions, but it’s clear that nobody wants to be the first to suggest even looking at the rainy day fund, ‘cuz then somebody will call them fiscally irresponsible. This despite the fact that every economist that isn’t still myopically worshipful of the joys of total deregulation and the Laffer Curve will tell you that cutting these services during a sharp downturn is dumb.
I’d like to hear at least as much talk from lawmakers about moral responsibility as we do about fiscal responsibility, although as wrong-headed as they continue to be about the former, maybe I don’t want to know what many would do with the latter.
On Douglas and Lunderville’s end, there’s a clear worldview in play. The Grover Norquist goal of getting Government “down to the size where we can drown it in the bathtub” (presumably preserving just enough to continue playing taxpayer-funded sugar daddy to political croneys). On the opposition side, however, there seems to be a complete vacuum of such an ideological framework. And nature abhors a vacuum.
I’m with nature on this one.