Last, we're going to put aside what we can for a rainy day. When times were good, we didn't save anything -- and that's one reason we're in this fix. Like most families, we can't save as much when times are tough. But we're going to do what we can.
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And we're going to do it responsibly. This budget allocates revenues that are
less certain -- like those from the sale of unneeded state assets -- to the
reserve fund. It would be irresponsible to bank on those revenues for immediate spending needs. But it would be
just as irresponsible to spend every penny we have without putting anything aside.
This is a rainy day, but there may very well be more storms ahead. We must be prepared for more shortfalls if the economy gets worse. Restructuring our bond payments should be a last resort, not our first option. If we restructure these payments to avoid spending cuts, we'll have no protection in the case of a downturn. That mistake was already made once. Let's not make it again.
I have presented you tonight a budget that makes difficult choices.
But the cuts we have proposed are fair. The hardship is evenly shared. And it will not be in vain: We are going to do this once and do it right. If we accept these cuts, if we endure this sacrifice, the budget crisis will be over -- without old tricks, and without new taxes, and without destroying what we cherish most.
Essential services, the university system and other key priorities will sustain cuts, but they will remain fundamentally sound. By finding creative ways to do more with less, by setting careful priorities, we've also managed to avoid the worst choices other states have made.
Other states are cutting aid to schools. We're expanding it.
Other states are taking health care benefits away. We're protecting ours.
Other states are releasing prisoners early. We won't.
Other states are deferring contributions to pension funds. Ours remains sound.
Other states – 24 so far – are proposing to raise taxes. We absolutely, positively will not raise ours.
This budget is a portrait of a state determined to embrace its future -- by solving problems -- and pursuing possibilities too. Confronted with a problem this tough, other people might duck and cover. Here in Wisconsin, we're going to stand and deliver.
I don't expect us to agree on everything, nor do I think my proposal is perfect. I'm open to your suggestions. But above all, I urge this: There is no time for bickering. There is no time for yesterday's politics. We're all in this together, and we need to act now and get this budget done on time. The longer we draw this out, the more we stall, the tougher the decisions become.
Some will say this budget is controversial. I suppose parts of it are. But the honest, can-do spirit it reflects is straight from the heart of Wisconsin. No one should sell our people short. They understand what we're up against. They're prepared to sacrifice. They're ready to join us -- if we're willing to lead.
Now, let's get to work.
On Wisconsin.
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7:45 P.M.
Chief Clerk's Report
The Chief Clerk records:
Senate Joint Resolution 4
Senate Joint Resolution 5
Senate Joint Resolution 11
Senate Joint Resolution 13
Deposited in the office of the Secretary of State on February 13, 2003.
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Senate substitute amendment 1 to Senate Bill 15 offered by Senator Brown.
