Scott Walker's Wisconsin budget surplus projected to grow to $484 million

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    Jan 25, 2013 1:09 AM GMT
    http://host.madison.com/wsj/news/local/govt-and-politics/wisconsin-budget-surplus-projected-to-grow-to-million/article_ec6cc518-666a-11e2-ac09-0019bb2963f4.html
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    Jan 25, 2013 2:17 AM GMT
    Um, the economy is improving in general and taxes are generating more revenue.
    You can say the same thing about more than half the states in the country, including California.
    http://bangordailynews.com/2012/05/03/news/nation/state-budget-surpluses-rising-as-economy-lifts-revenue/WASHINGTON — More than half of the 50 states expect to end their budget years with cash surpluses as a recovery in the economy buoys tax collections, a sign of easing pressure in statehouses across the country.

    Twenty-nine state governments, including New Jersey, Indiana and Arizona, anticipate ending their fiscal years with more money on hand than forecast when they put together their annual budgets, according to a survey released Thursday by the National Conference of State Legislatures. It marks the first time since the onset of the 2007 recession that so many states will have unspent funds.
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    Jan 25, 2013 4:20 AM GMT
    q1w2e3 saidUm, the economy is improving in general and taxes are generating more revenue.
    You can say the same thing about more than half the states in the country, including California.
    http://bangordailynews.com/2012/05/03/news/nation/state-budget-surpluses-rising-as-economy-lifts-revenue/WASHINGTON — More than half of the 50 states expect to end their budget years with cash surpluses as a recovery in the economy buoys tax collections, a sign of easing pressure in statehouses across the country.

    Twenty-nine state governments, including New Jersey, Indiana and Arizona, anticipate ending their fiscal years with more money on hand than forecast when they put together their annual budgets, according to a survey released Thursday by the National Conference of State Legislatures. It marks the first time since the onset of the 2007 recession that so many states will have unspent funds.


    Um - the article you posted is misleading - to the point that you didn't understand it. It is referring to the fact that cash surpluses over what was budgeted is higher. This is to say revenues were higher than anticipated or that costs were lower than anticipated but this does not meant that they achieved a budgetary surplus. This might be clearer to you if you read the report cited in the article (http://www.ncsl.org/portals/1/documents/fiscal/sbu_spring2012_freeversion.pdf). In fact, in that same article they point out:

    "The influx of funds left fewer states making emergency changes to close mid-year budget deficits and cut the scale of the shortfalls predicted for the 2013 fiscal year, according to the survey. Just 16 states, and Washington, D.C., reported facing combined deficits of $16.2 billion for 2013, with half of that coming from California and New York."

    So no, you cannot say the same about more than half the states. What the Wisconsin news is referring to are much shorter term projections and what has happened. The budget surplus California is reporting and has been touting is prospective and based on estimates for the year going forward. Their surplus hasn't happened yet - Wisconsin's year to date one has.
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    Jan 25, 2013 4:31 AM GMT
    chart.png
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    Jan 25, 2013 12:56 PM GMT
    q1w2e3 saidchart.png


    Unobligated balances != surplus
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    Jan 25, 2013 1:27 PM GMT
    riddler78 said
    q1w2e3 saidchart.png


    Unobligated balances != surplus


    Of course it doesn't. The unobligated balance could be returned in a tax rebate, used to pay for its long term obligations, put in a rainy day fund, or put into other expenditures.

    My point is, Wisconsin is not unique in its rosier budget.

    Say, is this budget accounting by GAAP?
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    Jan 25, 2013 1:40 PM GMT
    q1w2e3 said
    riddler78 said
    q1w2e3 saidchart.png


    Unobligated balances != surplus


    Of course it doesn't. The unobligated balance could be returned in a tax rebate, used to pay for its long term obligations, put in a rainy day fund, or put into other expenditures.

    My point is, Wisconsin is not unique in its rosier budget.

    Say, is this budget accounting by GAAP?


    Say, how many of them are? And while yes, it is rosier - that's not what you originally claimed. Wisconsin's financial position is in a surplus which is still relatively unique which isn't the case for many of the states you've claimed before which still have negative outlooks on their debt ratings despite their "improved" outlooks.