Fiscal responsibility is always important, but is truly neccesary when an economic crisis hits. As the nation struggles with the threat of COVID-19, we’re reminded of the real ramifications of both our spending and saving—since now more than ever, we need money.
Thankfully, the San Diego County Board of Supervisors have largely been responsible with taxpayer money for quite some time, leaving us well-equipped to manage this crisis.
Our reserves have been cautiously built up for over two decades. Supervisors Dianne Jacob and Greg Cox spearheaded the movement after joining the Board of Supervisors in the 1990s, allowing us to maintain a $6.2 billion budget with $2 billion in reserves. Though San Diego has been forced to make difficult choices with regard to spending in order to achieve these numbers, the efforts have paid off. We’re much better situated to deal with the coronavirus outbreak than every other county in the state.
I'm grateful to my colleagues @dianne_jacob and @SupervisorCox for creating the emergency reserves that we have during this current crisis. This is a reminder of how important it is to stay fiscally disciplined in nonturbulent times.https://t.co/GNoYVNrFEy
— Supervisor Jim Desmond (@jim_desmond) March 30, 2020
The budgetary decisions have often drawn heat from politicians and citizens alike. Many people struggled to understand why Republicans wanted to save money when there was so much freedom to spend.
The current crisis, however, truly vindicates the fiscal prudence of Republicans on the Board of Supervisors. When our local businesses are struggling to stay afloat, families are facing the threats of losing their homes, and working class citizens are left jobless, spending is not only justified but imperative. Having a surplus in these times gives the County the ability to provide economic stimulus, relief, and support without worrying about debt.
The County Reserve is a game changer for the economic reality of COVID-19, and may be just what we need to pull through these difficult times. Republicans have dealt with much pushback over the years for refusing to blow out the budget, but their temperance has allowed for the decisive actions needed to combat the coronavirus and keep San Diego’s economy intact.
