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Matt Mead on Budget & Economy

 

 


We used rainy day fund for rainy days; now make guidelines

Preparation for leaner times has two hallmarks, conservative budgeting and savings. Past and present leaders have wisely done both. Regarding savings, the State has $1.59 billion in the LSRA, the rainy day fund, and nearly $7.4 billion in the Permanent Mineral Trust Fund. These funds have grown substantially during my time in office. The rainy day fund, of course, is named for rainy days like those we've been experiencing these last couple of years. It's raining. This fund has allowed us to get through a rough revenue patch, and can do so in the future. Last session our spending from the rainy day fund helped smooth our budget and provide necessary services. Questions remain about the rainy day fund and its use. I continue to believe we need additional guidelines on the use of this fund that would set parameters and provide our citizens of local governments a better opportunity to refine their budgets by knowing what is the rainy day fund for, and when will it be used.
Source: 2017 State of the State address to Wyoming Legislature , Jan 11, 2017

Navigated recession while shrinking state government

Looking back at the last few years, we can see our state has navigated some hurdles:Clearing these hurdles allows us now to enjoy economic growth, higher revenue than was forecasted, and resilient communities. As a state, we have made remarkable progress. Achievements include:
  • improved infrastructure;
  • major broadband expansion--700% growth in access for students;
  • a pro-growth economic climate, nurtured by outreach efforts, targeted incentives, and support for communities, public-private partnerships, and local economic development groups; and
  • more efficient government through merging agencies, consolidating technology services, and reducing the state workforce and state rules.Regarding the workforce, in 2013 we have almost 300 fewer employees than we did when I took office. We are doing more with less.
    Source: 2014 State of the State address to Wyoming Legislature , Feb 10, 2014

    Reduce the budget & build up the rainy-day account

    Governor Mead's recommendations to the Legislature include:
    Source: Press Release on 2013 Wyoming State of the State Speech , Jan 9, 2013

    We need to live within our means

    Gov. Mead says the latest forecast from Wyoming's Consensus Revenue Estimating Group shows the state's economy is stable. However, Gov. Mead is concerned because the CREG is forecasting that revenue will flatten out or slightly decrease in the future.

    "I believe everyone in the state has to adjust to the fact that the days of big revenue spikes are likely behind us and we need to live within our means," Governor Mead said. "It is fortunate that the energy industry has led Wyoming out of the recession, but I recognize the national economy is fragile, and because of that, it cannot withstand energy prices going much higher."

    "Our revenue is still coming in at rates below what Wyoming saw in 2008," Governor Mead said. "This certainly shows that there are tough decisions ahead as I put together a budget and work with the Legislature this winter."

    Source: 2011 gubernatorial press release, "CREG Forecast" , Oct 24, 2011

    Other governors on Budget & Economy: Matt Mead on other issues:

    WY Senatorial:
    Charlie Hardy
    John Barrasso
    Liz Cheney
    Michael Enzi

    Gubernatorial Debates 2017:
    NJ: Guadagno(R) vs.Phil Murphy(D, won 2017 primary) vs.Ray Lesniak(D, lost 2017 primary) vs.Mayor Steve Fulop(declined Dem. primary, Sept. 2016) vs.Lesniak(D) vs.Wisniewski(D) vs.Ciattarelli(R) vs.Rullo(R)
    VA: Gillespie(R) vs.Perriello(D) vs.Wittman(R) vs.Wagner(R) vs.Northam(D)
    Gubernatorial Debates 2018:
    AK: Walker(i) vs.(no opponent yet)
    AL: Kay Ivey(R) vs.Countryman(D) vs.David Carrington (R) vs.Tommy Battle (R)
    AR: Hutchinson(R) vs.(no opponent yet)
    AZ: Ducey(R) vs.David Garcia (D)
    CA: Newsom(D) vs.Chiang(D) vs.Villaraigosa(D) vs.Delaine Eastin (D) vs.David Hadley (R) vs.John Cox (R) vs.Zoltan Istvan (I)
    CO: Ed Perlmutter (D) vs.Johnston(D) vs.Mitchell(R) vs.Cary Kennedy (D) vs.George Brauchler (R) vs.Doug Robinson (R)
    CT: Malloy(D) vs.Drew(D) vs.Srinivasan(R) vs.David Walker (R)
    FL: Gillum(D) vs.Graham(D) vs.Mike Huckabee (R) vs.Adam Putnam (R)
    GA: Kemp(R) vs.Casey Cagle (R) vs.Hunter Hill (R) vs.Stacey Abrams (R)
    HI: Ige(D) vs.(no opponent yet)
    IA: Kim_Reynolds(R) vs.Leopold(D) vs.Andy McGuire (D) vs.Nate Boulton (D)
    ID: Little(R) vs.Fulcher(R)
    IL: Rauner(R) vs.Kennedy(D) vs.Pawar(D) vs.Daniel Biss (D) vs.J.B. Pritzker (D)
    KS: Brewer(D) vs.Wink Hartman (R)
    MA: Baker(R) vs.Gonzalez(D) vs.Setti Warren (D) vs.Bob Massie (R)
    MD: Hogan(R) vs.Alec Ross (D) vs.Richard Madaleno (D)
    ME: (no candidate yet)
    MI: Whitmer(R) vs.El-Sayed(D) vs.Tim Walz (D)
    MN: Coleman(D) vs.Murphy(D) vs.Otto(D) vs.Tina Liebling (DFL) vs.Tim Walz (DFL) vs.Matt Dean (R)
    NE: Ricketts(R) vs.(no opponent yet)
    NH: Sununu(R) vs.Steve Marchand (D, Portsmouth Mayor)
    NM: Grisham(D) vs.(no opponent yet)
    NV: Jared Fisher (R) vs.(no opponent yet)
    NY: Cuomo(R) vs.(no opponent yet)
    OH: DeWine(R) vs.Schiavoni(D) vs.Sutton(D) vs.Taylor(R) vs.Jim Renacci (R) vs.Jon Husted (R) vs.Connie Pillich (D)
    OK: Gary Richardson (R) vs.Connie Johnson (D)
    OR: Brown(D) vs.Scott Inman (D)
    PA: Wolf(D) vs.Wagner(R)
    RI: Raimondo(D) vs.(no opponent yet)
    SC: McMaster(R) vs.McGill(R) vs.Pope(R)
    SD: Noem(R) vs.Jackley(R)
    TN: Green(R) vs.Dean(D)
    TX: Abbott(R) vs.(no opponent yet)
    VT: Scott(R) vs.(no opponent yet)
    WI: Walker(R) vs.Harlow(D)
    WY: (no candidate yet)
    Newly-elected governors (first seated in Jan. 2017):
    DE-D: Carney
    IN-R: Holcomb
    MO-R: Greitens
    NH-R: Sununu
    NC-D: Cooper
    ND-R: Burgum
    VT-R: Scott
    WV-D: Justice

    Retiring 2017-18:
    AL-R: Robert Bentley(R)
    (term-limited 2018)
    CA-D: Jerry Brown
    (term-limited 2018)
    CO-D: John Hickenlooper
    (term-limited 2018)
    FL-R: Rick Scott
    (term-limited 2018)
    GA-R: Nathan Deal
    (term-limited 2018)
    IA-R: Terry Branstad
    (appointed ambassador, 2017)
    ID-R: Butch Otter
    (retiring 2018)
    KS-R: Sam Brownback
    (term-limited 2018)
    ME-R: Paul LePage
    (term-limited 2018)
    MI-R: Rick Snyder
    (term-limited 2018)
    MN-D: Mark Dayton
    (retiring 2018)
    NM-R: Susana Martinez
    (term-limited 2018)
    OH-R: John Kasich
    (term-limited 2018)
    OK-R: Mary Fallin
    (term-limited 2018)
    SC-R: Nikki Haley
    (appointed ambassador, 2017)
    SD-R: Dennis Daugaard
    (term-limited 2018)
    TN-R: Bill Haslam
    (term-limited 2018)
    WY-R: Matt Mead
    (term-limited 2018)
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    Page last updated: Jul 21, 2017