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Yesterday’s Pignanelli & Webb:

"For years, political and business leaders have said that the only possible way to have enough money to pay the state's enormous education, transportation and social services obligations is to have a strong economy that generates phenomenal tax revenue.

"Well, guess what? They were right. It works. This year is proof. A booming economy is the magic potion that soothes all sorts of challenges. Thanks to a roaring economy, this is the year the state was able to play catch-up. Lawmakers approved the biggest budget ever, by far, easily topping $10 billion. They dished out a mind-boggling increase for public education, the biggest boost ever for transportation, and a nice pay boost for public employees.

"Even with all of that, legislators have remained true to their conservative roots, approving the biggest tax cut in history. They are funding natural growth in agencies but not boosting base budgets (except for public education) by a great deal. They have socked away large amounts of revenue in one-time expenditures.

"It's worth noting that while nearly every other sector of the economy is ringing up record increases in jobs growth, the government sector is growing by a very small margin.

"Obviously, the good times can't last forever and we don't completely control our destiny. Our fortunes will rise or fall based on national and international economic trends.

"But we have a solid, diversified economy, and Utah's leaders are positioning the state as best they can to keep the boom alive by investing in quality education, research and innovation in higher education, highway and water infrastructure, even while reducing taxes on the private sector."

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