Virginia Bond Rating Under Scrutiny

From the Free Lance-Star:

The bond rating agency Moody’s has placed Virginia on its watch list, a possible precursor to downgrading the state’s AAA bond rating.

Moody’s Investors Services said yesterday that Virginia “has experienced a significant deterioration of its balance sheet over the past two years.” Factors such as the economic recession–which severely affected Northern Virginia’s high-tech industries–the continuing weak economy, and the car-tax cut have contributed to the difficult fiscal situation.

Well gee, that’s what happens when your Republican-led General Assembly spends its way out of prosperity!!!

Of course, conservatives will become the scapegoat, which is a laughable proposition. State expenditures certainly didn’t decrease over the past five years – they only increased by 50%! And that’s under Republican leadership. . . why are we electing these guys if they aren’t going to wield the budget ax?!