Imagine that: Indiana deposits $360 million surplus into pension funds

    Indiana Gov. Mitch Daniels is one of the country’s most fiscally successful governors:

    “Many states and some localities are never ever going to be able to honor obligations they made,” Daniels said. “That will never be the case in Indiana.”

    On June 30, the state closed the books on Fiscal Year 2012 with nearly $2.16 billion in the bank, which is roughly 15 percent of the state’s budget. That made $360 million available for pensions and $360 million available for taxpayer refunds.

    The contrast with Connecticut is stark. Daniels passed only minimal tax increases to achieve these remarkable results.