Scott Walker cut $541 million in taxes last year. Now his state will miss a $108 million debt paymen

[applegrove]

Scott Walker cut $541 million in taxes last year. Now his state will miss a $108 million debt payment.
By Jeff Guo at the Washington Post

http://www.washingtonpost.com/blogs/govbeat/wp/2015/02/18/scott-walker-cut-541-million-in-taxes-last-year-now-his-state-will-miss-a-108-million-debt-payment/

"SNIP.............


By missing the May payment, Walker will incur about $1.1 million in additional interest fees between 2015 and 2017. The $108 million debt will continue to live on the books; Walker’s budget proposal for 2015-2017 will pay down no more than about $18 million of the principal.

“This latest accounting gimmick kicks the can further down the road and will end up costing taxpayers millions more,” State Sen. Jennifer Shilling (D) said in a press release yesterday.

Democrats have been pressuring Walker to address the estimated $283 million shortfall with an emergency budget bill, but he has resisted so far. Restructuring this kind of debt does not require legislative sign-off. Walker may also be forced to make emergency government spending cuts in the next four months to make ends meet.

In March last year, Walker signed a $541 million tax cut for both families and businesses. At that point, Wisconsin was facing a $1 billion budget surplus through June 2015, the Journal Sentinel reported.



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[Thinkingabout]

1. What do ya mean, he still has to pay bills? See if he just keeps on cutting taxes

Then his state can be downgraded like Kansas. Shows he is willing to break his state, he could do the same for the US. What about all the jobs that was going to show up in Wisconsin after he was elected? Not his fault, huh.

[Dustlawyer]

11. This is what he and other Republicans have been doing to millions of household budgets too

[Yo_Mama_Been_Loggin]

2. And this asshole wants to be our president

[drray23]

3. its pretty obvious what his plan is.

He is going to bail and let the next governor deal with the mess. Most likely, a democrat who will then be blamed for not repaying the debt fast enough.

[TeamPooka]

12. and for raising taxes

[HereSince1628]

13. That's exactly what Tommy Thompson did.

Leaving the burdern on Doyle...

However, it seems pretty likely that this time the grief will fall on Doe-eyed, and Palin-brained Rebecca Kleefisch.

[gratuitous]

4. I wonder how the Journal Sentinel will cover this?

"Liberal Math Tries to Undermine Our Glorious Governor"

[unionthug777]

14. i believe

that would be the urinal/sentinel.

[liberal N proud]

5. We know who will pay

Social Services
Students
State employees

[Wellstone ruled]

6. This is what will probably happen,

with the reassessment of property this year,watch real estate taxes hit the roof. If you have Recreational land or Lakeshore,watch out,your taxes will go bam through the ceiling. Now that most Ag land is exempt,the small communities are in for some real Austerity. Sure glad we sold our Wisconsin dirt a few years back.

[ND-Dem]

16. ag land is exempt? is that a gift to big ag?

[Initech]

7. Scott Walker - worst governor ever!!!

[n2doc]

8. Party of Fiscal Responsibility!

In all honesty, that's what the GOP was sold as, right through Reagan-Bush….Even now idiots tout Paul Ryan as "the adult in the room"….

[Cha]

9. Stupid.. This is what a smart Gov like Mark Dayton of Minnesota does..

This Billionaire Governor Taxed the Rich and Increased the Minimum Wage -- Now, His State's Economy Is One of the Best in the Country

http://www.huffingtonpost.com/carl-gibson/mark-dayton-minnesota-economy_b_6737786.html

mahalo, apple~

[Vinca]

10. Republicans seem to believe in the Money Fairy.

They believe they can slash taxes and when the bills come due the loot will come from the sky on a flaming pie. Walker is only the latest GOP governor to drive their state toward bankruptcy. And he wants to take it national. Amazing.

[Still In Wisconsin]

15. All part of the plan...

Create a crisis- in this case a debt crisis- and then push tax cuts for "job creators" and austerity for everybody else as the only possible solutions to the crisis. Lather, rinse, repeat. This has been the game for the last four years here.

[Ford_Prefect]

17. Part of the plan to drown government in a Bathtub...

[mtasselin]

18. Walker

walker can't do this shit by himself he has many republicans in the assembly and state senators to thank. 2016 would be a good year to clean house let the democrats come in and straighten things out, but then they will get accused of raising taxes.

[valerief]

19. You don't understand. Rich people are richer now. That's all that matters. nt

[crazylikafox]

20. So Wisconsin will be in Default?

I'm waiting for those headlines in the MSM.

waiting.... waiting....waiting.....