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    "comment": "I voted NO. \n\n
I cannot vote for reducing the treasury replenishment rate when the likely consequence is that it will be used as am excuse to further restrict the rate at which we invest in our future development and growth.\n\nWhat I mean is this: With so much of the governance discussion centred in X, there has evolved a kind of extreme financial conservatism. The reason for this, I believe, is that influencers and dReps with followers online try to increase their perceived responsibility by advocating for an extremely restricted attitude towards spending money from the treasury. They claim to be the ones protecting the treasury and, by extension, the ecosystem.
One result of this, is that the net change limit (the amount that can be withdrawn in one year) is now set to just under the amount we expect the treasury to be replenished over the year by transaction taxes. Therefore all the amount above this limit is just sitting there, not helping the ecosystem in any way. It doesn’t matter that the treasury is 1.5 Billion dollars, anything above the 350 Million net change limit is doing the same thing, nothing. When these same influencers criticise the budget (which was released this week) they do so arguing that we have to protect what we have. They rarely, if ever, consider the other side of that coin, which is, of course, that they are restricting the amount that we invest for future development and growth. \nIt is simply nonsensical that the same people who have argued so passionately against Intersects investment budget in order to protect our treasury, now argue that we should cut by half the rate at which that treasury is replenished!\nIn this climate, where will the discussion be in future years, if we don’t get the much hoped for Ada price increase, when the budget to invest and develop our ecosystem is higher than our treasury replenishment rate?\nI think those same voices will continue to portray themselves as financially responsible by arguing for a reduction in the Intersect budget because of the lower replenishment rate. 
My view is that now is the time to invest for the future. 
So I cannot vote for reducing the treasury replenishment rate when the likely consequence is that is will be used to further restrict the rate at which we invest in our future development and growth. \n\nIf our community had a sensible and consistent attitude towards the treasury I would have voted YES. "
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