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Tuesday, June 23, 2009 | I am only aware of three ways to bring a budget into balance: (1) reduce expenditures, (2) increase revenues, or (3) a combination of reduced expenditures and increased revenues. But, first of all, there must be a list of priorities. All needs cannot be the highest priority. Higher priorities are maintained, and lower priorities are reduced or eliminated. Rather than reductions or eliminations, service fees can be increased or established where fees do not currently exist.
Governments, just like businesses, just like personal budgets, must establish priorities. I encourage cities, counties, states, and the federal government to establish priorities and to make financial decisions based on those priorities. The time is now to live within our means.