Last year Gov. McDonnell had the opportunity to introduce an honest budget that funded state government without borrowing or mortgaging the future. Instead he punted and balanced the budget with tricks and gimmicks such as underfunding the Virginia Retirement System and promising to make up the cost down the road.
Last week, the costs of the governor’s failure to lead began to come to bear, as the Virginia Retirement System board of trustees warned that such stunts put Virginia in danger of being unable to honor the promise we make to our workers that their pensions will be fully funded and available when they need them.
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