Scott Walker defers debt principal payment to balance books

[Scuba]

Fiscal responsibility, my ass!


http://www.jsonline.com/news/statepolitics/scott-walker-budget-again-declines-federal-money-for-medicaid-expansion-b99445846z1-292084711.html

Madison — Gov. Scott Walker's administration in May will skip more than $100 million in debt payments to balance the state's shaky budget, bringing the total such payment delays to more than $1.5 billion since 2001.

...

Also Monday, Democrats called on Walker to take federal money to expand Wisconsin's health programs for the needy and save the state up to $345 million over the next two years. Walker's budget proposal takes the opposite tack and keeps with his policy of avoiding a full federal expansion of health programs in the state.

The Legislature will not have to sign off on the delay of the debt payment, because it involves a kind of short-term line of credit that in this case is not subject to lawmakers' approval.

"He effectively wants to borrow money from the future to pay for his tax cuts today," Rep. Gordon Hintz (D-Oshkosh) said. "That doesn't sound fiscally responsible to me."

[riversedge]

1. "He effectively wants to borrow money from the future to pay for his tax cuts today,"

and Repub in WI will say--of course!

[Fred Sanders]

2. Every con state is doing the same...and getting away with is what is jaw dropping.

Pretend economics like the pretend party they are.

But just let a blue state or Obama try this trick the faux outrage will be deafening.

Deficits do not matter to cons, it is just another pretend policy.
Is this even allowed? Any accountant, economist or actuary would have a heart attack.

[Warren Stupidity]

3. Didn't we used to call this "defaulting"?