How Does Vermont Spend its Revenues? Source: Vermont Comprehensive Annual Financial Report. Fiscal year ending 6/30/06. 75% of Revenues Go Towards Education and Human Services 39% 36% 7.5% 6% 5%
How Has Various VT Government Spending Grown Recently? Source: Vermont Comprehensive Annual Financial Report. Fiscal year ending 6/30/06. Education, Police & Corrections and Human Services are growing almost 3 times higher than inflation, while Business and Job related expenditures shrink.
Student Enrollment Down - Employment and Costs Up Source: Summary of the Annual Statistical Report of Schools (SASR) FY 1997 - 2006 Student Growth = -9.1%; Teacher and Staff Growth = +20.8% Students Teachers And Staff 106,341 96,636 15,783 19,069 94,000 96,000 98,000 100,000 102,000 104,000 106,000 108,000 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 15,000 16,000 17,000 18,000 19,000 20,000
“ Many of Vermont’s new jobs are low-paying service jobs.”
“ What is needed in Vermont are good-paying jobs that take full advantage of work force assets.”
“ This requires Government & Community leaders working together to develop an economic environment that makes the use of these assets a State Priority.”
Vermont Jobs 2001 - 2008 Source: Public Access Institute, Montpelier, VT. The bottom line All of the net new jobs during this period were in the public sector. There are fewer private sector jobs now than there were in 2001. 4,600 54,200 49,600 Public Sector Jobs ** * Includes both for-profit and non-profit employers ** Includes federal, state, and local government employers (100) 252,600 252,700 Private Sector Jobs * 4,500 306,800 302,300 Total jobs Change April-08 April-01
VT Has Many More Part-Time Workers Than The U.S. or NE Average Source: Economic Policy Institute analysis of Current Employment Statistics survey data. Many of these jobs are tourism-related with sub-standard pay and little or no benefits 38.2 20.1 28.8 Maine 36.2 20.5 28.1 Vermont 36.1 18.9 27.1 Massachusetts 35.4 19.1 27.0 Rhode Island 35.0 19.1 26.6 Connecticut 34.0 16.6 24.8 New Hampshire 29.6 16.3 22.4 United States Female Male All
VT’s 2007 Gross Domestic Product Source: Vermont Economic Newsletter July 288, Page 3 How often do we hear that Vermont relies heavily on Agriculture? 1.5 Agriculture 3.0 Utilities 2.1 Transportation 1.7 Private Education 16.5 Other small sectors, including Real Estate % Industry Segment 4.5 Construction 4.4 Hotel / Restaurant 4.1 Information Management 8.0 Professional / Technical / Administrative 5.9 Finance 4.8 Wholesale 8.3 Retail 10.0 Health Care 11.5 Manufacturing 13.7 Government
VT’s Population Growth Less Than Half of the National Average
Who Is Going to Support the Ever Expanding “Safety Net” When You Are Retired? Source: U.S. Census Bureau
Persistent spending 2-3 times above the average Vermonter’s income growth is unsustainable and irresponsible
You would be jeopardizing your own future if you conducted your own affairs this way. Why elect public officials who endorse this behavior?
Encourage a reversal of the decision-making process: Instead of deciding what is needed and then how we can afford it, let’s decide what we can afford and then make the difficult decisions required to allocate the available resources.
Remove Obstacles to Private Sector Job Growth
Regulation and permitting, when excessive, has negative consequences:
It raises the cost of everything from housing to the premiums you pay for health insurance
It makes it difficult for local businesses to compete with more business-friendly locales which leads to fewer job opportunities and fewer goods purchased locally
It requires greater bureaucracy to maintain, which diverts much needed funds away from the most vulnerable members of our communities