In the catchpenny world of government finance, having too much money can often be worse than not having enough. It is demonstrably easy to say no when the treasury is empty; but it’s tough to resist temptation when the state is awash in cash. Maryland is suffering an embarrassment of riches. The state cannot lay claim to its sudden wealth due to frugality or prudent investment.
DeFilippo: Maryland is Putting its Embarrassment of Riches to Work
October 19, 2021