Bob McDonnell's State of the Commonwealth Address

Last summer, we all collectively held our breaths as we watched the debt limit fight in Washington. Today we face a volatile Euro and international unrest.
Uncertainty is the new certainty.While we cannot control what Congress or Europe do, we must prepare as well as possible for the future changes that are certain to come.
That is what I have tried to do in the introduced budget.
The budget does not raise taxes.
Rather, it forces state government to set priorities, live within its means and plan for the future, something I wish our federal government would do.
I am asking you to put $50 million into a newly created Federal Action Contingency Trust (FACT) Fund. This fund will help us to handle impacts from the necessary and likely future federal spending cuts, and to take prudent action to help diversify our economy. I am also proposing we enhance our cash reserves by doubling the Rainy Day Fund to over $600 million by the end of FY 2014.
We will also eliminate the accelerated sales tax policy for 96 percent of merchants, by allocating $50 million in FY 2012. My goal is to get rid of this unfair policy by the time I leave office.
Together, these budget strategies provide structural balance, reduce unfunded liabilities and invest in job creation, transportation and higher education; ideas well received during our visit to the three bond rating agencies in New York last Friday with your money committee leaders.

Read the entire speech here.  


This is the press conference announcing the legislative agenda for the upcoming session of the legislator.  

I am willing to take a wager that this man will be the VP nominee.