DOES THIS PUT VA ON A WATCH LIST FOR SPEAKING OUT AGAINST THE FEDERAL GOVERNMENT?

by ~ The Rebel ~ Posted 2011/08/19 02:10:36

Related Topics: Congress, Credit, Legislators, Military, Faith, Watch, Economy, Budget, Federal Government, Cash, Virginia, Finances, Budget Crisis, Watch List, Federal Budget

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Gov: No Faith in Feds’ Credit, Va Needs Own Reserves

RICHMOND — Legislators statewide welcomed a proposal by Gov. Bob McDonnell to wean the state from its military-dependent economy and shore up its cash reserves.

In a statement to three legislative committees that deal with state finances, McDonnell laid out a plan to diversify the state’s economy that would protect Virginia from any fallout from the federal budget crisis and allow it to keep its AAA bond rating.

“I can’t wait to sit idly by and wait to see what they do,” McDonnell said of Congress.

McDonnell wants to create a reserve fund the state could tap as an incentive pool to lure defense contractors into other industries.