Lieutenant Governor: Non-Issue

Campaigns for lieutenant governor seldom make noise. The race for attorney general typically generates more headlines. The gubernatorial contest dominates the scene.

The reason is simple: The lieutenant governor has few stipulated duties. The position's main obligations include presiding over sessions of the State Senate and succeeding the governor in the event of the governor's death or resignation. Principally because of the second function,

The Times-Dispatch long has inclined toward teaming candidates for governor and lieutenant governor on a ticket. One vote would fill the two posts. We also have suggested that the attorney general serve not as an elected official but as a gubernatorial nominee subject to legislative confirmation, but that is an argument for another day.

This year Democrat Jody Wagner is challenging Republican Lt. Gov. Bill Bolling. Wagner's service as secretary of finance in Gov. Tim Kaine's administration has been a subject of contention. Opponents seem to believe she shares substantive blame for the state's budget problems. They point to forecasts that missed the mark.

While we have said that we have no great confidence in the state's forecasting, we should add we have little confidence in forecasting at any level and in any sector. We are not aware that Virginia's projections have proved less accurate -- or more inaccurate, to be precise -- than the projections in other states. Private companies misread trends, too, as the list of firms that periodically must adjust their financial reports vividly suggests. An acclaimed study of Wall Street's meltdown reports that time after time officials concluded the situation could not grow worse -- whereupon conditions worsened.

Regarding Virginia, it might be profitable to remember that when the Kaine administration first reported deteriorating budget numbers, lofty Republicans expressed their scorn. Kaine's initial calls to tap the rainy-day fund met with GOP skepticism.

If Virginia had a reputation for budgetary incompetence, then it would not consistently win awards for sound management and a healthy business climate. Both parties share the credit for the good news -- and, regarding the budget, they share blame for the bad. When times boomed, Republicans and Democrats alike failed to prepare for the inevitable bust. Economic forecasting itself rates either as a minor issue or as a non-one.