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Bill Weld on Budget & Economy

Former Republican Governor; former Senate candidate (MA)


Balanced budget in downturn after boom decade of spending

During the economic boom of the mid-1980s, as the economy surged, so did tax revenues--and state spending. By the time the downturn came in 1987, deficit spending reached unprecedented levels.

The new governor's first priority was to stop the trauma, and he did so. He forced the 1991 budget he'd inherited from Dukakis into balance, in part by requiring state workers to take unpaid "furloughs," in part by cutting state aid to cities and towns--but mostly by landing an unexpected windfall: a $531 million federal reimbursement for Medicaid expenses. However it was done, it was done: the 1991 fiscal year ended in the black. For fiscal 1992, Weld actually budgeted less money than the year before.

In July 1992, Weld's first full budget cycle came to an end. Total spending had indeed decreased from 1991. Not by much--only 1.7% (about $200 million)--but it was the clearest sign imaginable that the budget meltdown had been confronted and reversed.

Source: Jeff Jacoby in City Journal , Jan 1, 1996

Other governors on Budget & Economy: Bill Weld on other issues:
MA Gubernatorial:
Charlie Baker
Dan Wolf
Deval Patrick
Don Berwick
Martha Coakley
Marty Walsh
Steve Grossman
Tom Menino
MA Senatorial:
Brian Herr
Bruce Skarin
Ed Markey
Elizabeth Warren
Gabriel Gomez
John Kerry
Martha Coakley
Mo Cowan

Election 2013:
NJ-R: Chris Christie (won)
NJ-D: Barbara Buono (lost)
VA-R: Bob McDonnell(Retiring)
VA-R: Ken Cuccinelli (lost)
VA-D: Terry McAuliffe (won)

Gubernatorial Debates 2014:
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AR: Ross(D) vs.Hutchinson(R)
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MI: Snyder(R) vs.Schauer(D)
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Up for re-election 2014:
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CA-D: Jerry Brown
CO-D: John Hickenlooper
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GA-R: Nathan Deal
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MI-R: Rick Snyder
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NH-D: Maggie Hassan
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NV-R: Brian Sandoval
NY-D: Andrew Cuomo
OH-R: John Kasich
OK-R: Mary Fallin
OR-D: John Kitzhaber
PA-R: Tom Corbett
SC-R: Nikki Haley
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VT-D: Peter Shumlin
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Term-Limited or Retiring 2014:
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Page last updated: Mar 23, 2014