Debt and Budget

A large contingent of Virginians says it will pressure congressional representatives to vote against a proposal by the Obama administration that cuts into Social Security benefits.

The AARP is part of the group that says the "Chained CPI" proposal breaks the promise made to millions of Americans. 

While the Consumer Price Index calculates inflation through the costs of basic goods, the Chained CPI factors in lower demand and the substitutions that consumers make when costs are higher.  Thus, it lowers cost-of-living adjustments for inflation.  

The dust has settled in Richmond.  Lawmakers and lobbyists have gone home, and educators are licking their wounds after failing to get much more money for public schools. 

Barbara Coyle is neatly dressed and coifed – polite and professional -- but a measure of frustration simmers under the surface when she talks about the plight of Virginia schools.

“The state dollars have been declining, the federal dollars have been declining and it’s been put back to the localities to make up that difference.”

Governor's School Takeover Amendments Rejected

Apr 3, 2013

The House has shot down one of Governor McDonnell's budget amendments during the General Assembly’s Reconvened Session. 

Battle Over The Debt Ceiling

Mar 28, 2013

The government is now funded through September, but another deadline is hanging over Congress that imperils the economy of Virginia.

The last time Congress wrangled over the debt ceiling the federal government lost its triple A credit rating. Credit rating agencies say Virginia could also lose its pristine credit rating if the federal government gets locked in partisan warfare once again.

That could make borrowing more expensive for cash strapped locales, according to Virginia Democrat Gerry Connolly.  

Governor McDonnell has proposed amendments to the transportation-funding package that was hammered out by conferees and passed by the General Assembly last month.