Saturday, April 3, 2010

‘It’s not the state’s money’

Cut spending or creative tactics to patch budgetary holes? Far too often political expediency translates into little respect for other people's money (OPM).

Give people their money. It's the rallying cry of lawmakers around the country pushing back against states that are delaying tax refunds to shore up their budgets.

Holding on to the refunds allows states to use the money for other purposes, earn interest on it or simply wait until there's enough cash to cover the checks. But the cost can be an unhappy public.

Source: msnbc.msn.com

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