Quote Originally Posted by Novine View Post
The financial geniuses in Lansing must have slept through the discussions of the debate over changes to the federal tax code and failed to take into account how those changes would affect tax receipts in the wake of those changes.
Not the only ones. Across the country states and local governments have reacted to every bump in revenue be it from federal tax activities, real estate bubbles, or other anomalies as a permanent forecast for future growth. Rather than treat it as "pennies from heaven" and spending it on one time buys or socking it away for a rainy day, it gets incorporated into future budget forecasts as a revenue stream which will go on forever.