Big Budget Bad for Economic Growth
Written by: Ashley Landess
South Carolina government is growing at a faster rate than our incomes. From 1992 to 2002 real per capital income grew by 2.5 percent, compared to state spending growth of 3.4 percent and local growth of 3.0 percent. Local revenue from fees, permits and other charges grew by almost ten percent every year.
If you believe government is the most effective vehicle for economic growth a view one prominent Republican South Carolina Senator has expressed — then the big increases in government revenue and spending are good news. But true fiscal conservatives know better — higher fees, greater tax burdens and more spending paint a worrisome picture that threatens economic prosperity