By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Column: No time for a spending spree
Placeholder Image
First, the good news: South Carolina closed out the 2018 fiscal year, which ended June 30, with a $177 million revenue surplus. That’s encouraging not just because of what it means for the state’s finances, but because of what it says about the strength of the state’s economy -- which is experiencing broad growth with increases in employment, personal income and take-home pay. (Certainly, our recent governors and state commerce leaders deserve much credit for their job-recruitment efforts, which have created our very healthy economy and employment rate.) Actually, the state’s revenue collections were more impressive than the surplus shows; they increased $542 million over the previous year. However, increased spending authorized in advance by the state legislature gobbled up $365 million of that additional money.