Virginia budget surplus? Not so fast.

Published May 21, 2010 4:00am ET



Could it be? Is it really possible? Might Virginia’s budget woes be ending? In in late 2007, Virginia’s tax revenues have been declining (along with most of the rest of the country), forcing the incoming administration of Gov. Bob McDonnell to make some drastic budget cuts.  To their credit, McDonnell and the General Assembly did this without raising taxes, and now it seems that just rewards are due:

In a troubled fiscal year of persistent shortfalls, Virginia could wind up posting a small surplus by the time the current budget expires at the end of June, state government’s top money officer said Monday.

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