More of state budget taken up by loan payments
MADISON, Wis. (AP) — Repaying the state’s debt will take a greater share of Wisconsin’s revenue in the coming years.
By 2012, the annual payments on state debt will likely consume at least 4.5 percent of the state’s total income from taxes and fees. That’s according to projections by the Legislature’s and Democratic Gov. Jim Doyle’s budget offices.
State officials have long considered a 4 percent threshold to be a reasonable limit. Payments on debt would rise from $487 million in 2011 to $650 million in 2012 — an increase of 33 percent.
Todd Berry, president of the Wisconsin Taxpayers Alliance, says the state has been pushing the borrowing and debt envelope because it hasn’t come to grips with its budget problems.
Jun 22, 2009 at 1:09 p.m.
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"Somehow, I don't think Janesville or Wisconsin is uniquely badly managed."
Then you've obviously been either asleep for the past 6 years, or you're a Jim Doyle apologist (a.k.a. school teacher, trial lawyer, Indian casino owner)
Jun 22, 2009 at 8:44 a.m.
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"Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man."
Jun 22, 2009 at 1:33 a.m.
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This is happening to all fifty states. It's also happening to numerous whole countries. Yes, it is also happening to local governments. Somehow, I don't think Janesville or Wisconsin is uniquely badly managed. This is a truly global crisis.
Jun 21, 2009 at 5:25 p.m.
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next, the city of janesville
Jun 21, 2009 at 5:09 p.m.
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Mark my words it will be alot higher than they are saying. Doyle is a jack ass.
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