Diary

Guarding The People's Money

I firmly believe that there is no greater responsibility as Governor than to be the Guardian of the People’s Money.

I have watched with increasing incredulity as the Federal Government continues to spend money our country doesn’t have.  Like most of you, I find myself asking:  When will this craziness stop?  When will Congress and the President listen to the people who are saying enough is enough? States are rightfully worried about the costs that the federal government will pass on to them.

In Alabama we have seen billions of dollars in trust fund money squandered in risky investment schemes.  It is time to stop high-risk gambling on the stock market with Alabamians trust funds.  It is time to make the next governor of Alabama directly responsible for the security of those funds.  We need to ensure that those funds are under a proper duty of care invested safely and conservatively.

Individual families know that they must balance their budgets every day.  They simply can’t spend more money than they make.  If they do, in a short period of time they will be bankrupt.  Local governments learn the same lesson. They can’t spend more than they collect in tax revenues.  If they do, they too will be bankrupt.  And if they keep raising taxes on people struggling to put food on the table for their families, local officials know that they won’t hold office very long.

State governments need to balance their budgets every year.  They too may try to raise taxes to do so, but with the same risks that local officials face.  The federal government and Congress refuse to learn this lesson.  They simply continue to incur huge, unimaginable trillion-dollar deficits, spending money unwisely, often foolishly.   They don’t seem to care that sooner or later this money will have to be repaid.  They don’t care that it will be future generations of Americans who will either pay the money back or see our country go bankrupt.

I won’t let Alabama go down this path.  I will invest the hard earned money of Alabamians in a reasonable, fiscally responsible manner.  There will be no wasteful spending in a Tim James administration

Cross posted at Tim James

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