It's madness! At least venture madness, as startups compete for funding.
Save budget surplus for a rainy day, state superintendent says
Arizona is taking in more money than had been expected this year and that has led to a projected budget surplus for fiscal year 2012. But State Schools Superintendent John Huppenthal is not asking for more dollars for education. From Phoenix, KJZZ's Terry Ward reports.
TERRY WARD: Huppenthal says Arizona has incurred a lot of debt in recent years as it sought to balance its financial books and he says lawmakers should focus on - what he calls - the coming hurricane when the state is once again expecting a budget deficit.
JOHN HUPPENTHAL: I would absolutely like to maintain current levels of funding, no cuts. But I think they ought to do everything they can to repair the balance sheet and prepare for the following year when its really gonna be difficult.
TERRY WARD: The coming hurricane is a reference to 2014 when the voter-approved half-cent sales tax expires. Huppenthal says any budget surplus should be set aside for the future.