When the gas light goes on in your car, most people stop at the nearest gas station to fill up. But others see how far they can push it, and they drive on for another 20 miles or so before stopping. This is the approach the state of Wisconsin has taken when it comes to restoring the solvency of the Veterans Trust Fund, which finances most of the state's programs and services for veterans and their families.
With more and more troops coming home from Iraq and Afghanistan, the Veterans Trust Fund is facing serious solvency issues. To put it simply, there is an increase in demand for government services and the Trust Fund can't keep up. Annual expenditures are exceeding revenues by about $6 million a year and recent estimates confirm that by 2013, the Trust Fund will slip into negative cash flow.
For the time being, the Trust Fund is running on empty, and we as a state have to decide if we're going to stop to fill up or if we're going to push our luck and put it off into the future.
We can all agree that it's in the best interests of the state to ensure that our veterans have the services they need to reestablish their lives and excel in the workforce. On top of the social benefits, reintegration services generate huge dollars for the economy in health care savings and productivity returns. That being the case, it's extremely important that we identify short-term solutions and long-term strategies to maintain the viability of veterans programs and the Trust Fund.
So what options do we have if it's clear that we need to maintain veterans services? To go back to the car analogy, we can either fill up now (i.e. identify a long-term revenue source to stabilize the Trust Fund) or we can risk it and hope for a gas station down the road (i.e. hold off on new revenue and trust that veterans programs won't break down before the next budget cycle).
In my opinion, we need to address this issue on the front end, and we need to make a variety of adjustments to cover the operational costs of the Trust Fund. First off, we need to identify efficiencies within current programs. The Wisconsin Department of Veterans Affairs (WDVA) has already taken steps to restructure assistance programs and reduce administrative costs, but during these difficult times, we need to continue to ensure that state programs are lean and sustainable.
Secondly, we need to look at shifting funding off the Trust Fund onto sources that are more manageable. For instance, 98 percent of the funding for the Wisconsin Veterans Museum is financed by veterans. This state treasure is enjoyed by all residents of Wisconsin, and we need to consider shifting funding onto general purpose revenue in order to help extend the solvency of the Trust Fund.
Finally, we need to look at permanent state and federal revenue sources directed toward the Trust Fund. Despite all the talk about reducing government and cutting taxes, we have to understand that reducing government could mean cutting programs that go to veterans and their families. If we as a state truly believe that it's in our best interests to invest in our veterans, then we have to be willing to foot the bill and follow through on that commitment.
With more and more troops coming home from Iraq and Afghanistan, the Veterans Trust Fund is facing serious solvency issues. To put it simply, there is an increase in demand for government services and the Trust Fund can't keep up. Annual expenditures are exceeding revenues by about $6 million a year and recent estimates confirm that by 2013, the Trust Fund will slip into negative cash flow.
For the time being, the Trust Fund is running on empty, and we as a state have to decide if we're going to stop to fill up or if we're going to push our luck and put it off into the future.
We can all agree that it's in the best interests of the state to ensure that our veterans have the services they need to reestablish their lives and excel in the workforce. On top of the social benefits, reintegration services generate huge dollars for the economy in health care savings and productivity returns. That being the case, it's extremely important that we identify short-term solutions and long-term strategies to maintain the viability of veterans programs and the Trust Fund.
So what options do we have if it's clear that we need to maintain veterans services? To go back to the car analogy, we can either fill up now (i.e. identify a long-term revenue source to stabilize the Trust Fund) or we can risk it and hope for a gas station down the road (i.e. hold off on new revenue and trust that veterans programs won't break down before the next budget cycle).
In my opinion, we need to address this issue on the front end, and we need to make a variety of adjustments to cover the operational costs of the Trust Fund. First off, we need to identify efficiencies within current programs. The Wisconsin Department of Veterans Affairs (WDVA) has already taken steps to restructure assistance programs and reduce administrative costs, but during these difficult times, we need to continue to ensure that state programs are lean and sustainable.
Secondly, we need to look at shifting funding off the Trust Fund onto sources that are more manageable. For instance, 98 percent of the funding for the Wisconsin Veterans Museum is financed by veterans. This state treasure is enjoyed by all residents of Wisconsin, and we need to consider shifting funding onto general purpose revenue in order to help extend the solvency of the Trust Fund.
Finally, we need to look at permanent state and federal revenue sources directed toward the Trust Fund. Despite all the talk about reducing government and cutting taxes, we have to understand that reducing government could mean cutting programs that go to veterans and their families. If we as a state truly believe that it's in our best interests to invest in our veterans, then we have to be willing to foot the bill and follow through on that commitment.
