Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Virginia Governor on Prioritizing Spending

Details

  • Description

    Virginia Governor Bob McDonnell breaks down the State's budget plan.

  • Duration 4:47
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

It's something to keep -- non.

OK let's move to Virginia Dallas its new two year budget cuts spending in many areas also contains about six billion dollars -- increased spending.

For things like education transportation and the Republican governor.

Program are right we talk about states and governor thank you very much for coming on by the way.

Mexico we talk about states all the time and and their finances the -- the angle I would take on what you're doing in Virginia.

And correct me if you think I'm taking the wrong angle would be this because we talk.

About the federal government all the time and the divide between Republicans and Democrats and here I am talking to a Republican governor of course cut spending and feels like he has to and understandably so.

But also increase the spending in certain areas and -- -- education and and and transportation.

That's not what we hear out of the Republicans in Washington all the time it sounds like you're taking a political balanced approach that you're willing to take a look at it.

And they have maybe spend some more money if you have to.

Governors have an opportune I have an obligation to balance the budget very different concept of what they do in Washington where they spent more more deficit and more debt and don't don't make ends meet.

We've -- -- the last couple years because our job numbers are up word -- been ranked the most business friendly state unemployment down six point 2%.

It's O'Connell the -- we've got more revenues is because we've got more economic activity were projecting four point 5% growth.

In his second year of the budget and so what we're doing Israel are getting some money from lower priority a high priority here is we're trying to solve some big problems.

But I together they were -- were -- a lot of that money away in the rainy day fund.

And -- special fund to get ready for federal cuts.

And left a lot of money on a pro British showed up on the spending side of the ledger but generally increasing liquidity you cut.

Some of the education figures that we shut on the screen.

A moment ago while -- she said you -- allocated to other areas you're being criticized out some of those.

Education cuts by your opponents -- you justify them how.

Well because they're not cuts only in Washington would you -- reduction and increased the cut -- But that's what some people are doing now we've actually increase K12 spending.

About 438 million this year now about two thirds of it was to bolster.

The retirement system for teachers but there's some other things in this all -- formula driven system.

They didn't make sense in this tough economy that we could -- staff requirements than some things like that that aren't dollars in the classroom so I just made the decision that we could not.

-- Ford does and yet some people wanna call that a cut we've actually increased that a 438 million.

But I am struck by the term used a moment -- in terms of prioritizing how you do you allocate your funds which are obviously in limited as they aren't in all states and did you to have things a little bit better -- -- unemployment rate reflects this it closer to Washington DC was a lot of government jobs and their other reasons but your unemployment rate is.

Is lower than the national average.

But the idea prioritizing spending we talk again we talked a lot of Republicans on the shelf Democrats is what will we -- a lot of Republicans who come on what the cut cut cut message.

And you're basically saying that they should be some priority in terms of government does have a role in certain areas you are right.

Oh well absolutely but that's true and every state -- the federal level there court things figures that should constitution requires.

In education in colleges and public safety transportation health -- certain things you gotta do -- work through -- what more transparency and more accountability.

Last year the tough budget times ought to cut about six billion dollars out of the budget.

We -- without raising taxes but now we're growing again.

Had a billion in surplus and now we can afford to do some things that we couldn't do before.

But we're gonna -- a different way I would more accountability in now making people -- -- that report better how they're spending those dollars to me that makes sense.

Fair enough to conversation Merry Christmas by the way -- governor.

You know our scuttled -- was told to ask you about as well I don't know a heck of a lot about this for speaking of Christmas that the things in Richmond get a little bit over the top.

In terms of Christmas light displays is that right we have some of these pictures where they go big go.

What's the deal they -- go crazy on Christmas lights -- that'll.

A lot of money but we -- Well Richmond Virginia is the capital love but not only college basketball but tacky lights -- we make all our -- that's.

We have a lot of people haven't -- this have a they were the -- like store -- my daughter went on the tour on.

Saturday night it's actually nice makes people feel good even with a tough economy and you know other power companies love it.

Some of these pictures are pretty funny did and -- -- the power companies love because these people are up that a lot of -- might start.

Again Merry Christmas happy new year I got to be back hairdresser Karl thank you we're gonna ask that we are gonna ask our viewers I said it's at the top to send your pictures in of your your your best tacky like -- -- -- our FaceBook page and everybody -- look at -- that something fun.

I mean whatever it might -- on non this holiday we.

Load More