Economists Jeff Carr and Tom Kavet work for different masters. Carr provides economic advice to the Douglas administration while Kavet works for the Legislature. Twice a year they are charged with analyzing economic trends to discern what kind of tax revenues the state can expect.
The pair undertake separate analyses. Then they are charged with reaching a consensus. They reported to the governor and the chairman and women of the Legislature's money committees Tuesday.
They are old hands at this process, so they reported they had no trouble reaching agreement on the economic trends and tax implications. The tougher challenge was agreeing on what slides to include in their first-ever power point presentation to Gov. Jim Douglas, Reps. Michael Obuchowski and Martha Heath, and Sens. Susan Bartlett and Ann Cummings -- all Democrats.
"It took us more time to put the slide show together than write the report," Carr told the assembled group, also known as the Emergency Board.
Kavet had offered a similar assessment several hours earlier when he briefed the House Ways and Means Committee on the revenue projections. And just what did they disagree about? Kavet said one area of dispute was a cartoon he wanted to include that shows a couple standing on green grass, the guy in shorts and sandals. The man asks, "What's that? as a single snowflake falls. The woman answers, "Winter."
The slow start to winter has taken a toll on many Vermont recreation businesses, which will impact the revenues of the state. Kavet and Carr estimate at least $2 million in tax losses.
"I guess the administration thought it was too serious a topic for a cartoon," Kavet told House Ways and Means.
Hey, if you can't laugh at bad luck, you'll cry. At least you get some health benefits from laughing.
--- Nancy Remsen
