Wisconsin skips debt payment

Ragman · Feb 19, 2015

Hmmm, Lets see . . . Republican tax cuts . . . skip debt payments . . . claim budget balanced. . . yep that works.

And this guy wants to be President!

Wisconsin to Skip Debt Payments to Make Up for Walker?s Tax Cuts - Bloomberg Politics

davekc · Feb 19, 2015

Well sure. Doesn't appear any different than what we do now on the federal level. That is why we are 18 trillion in debt.

He is walking a fine line banking on restructured lower interest rates and a certain level of income and budget cuts. Or, like most, "just kicking the can down the road".
It's all the rage with government finance.

paullud · Feb 19, 2015

Just borrow to pay your debt, works every time. ☺

Ragman · Feb 20, 2015

paullud said:
Just borrow to pay your debt, works every time. ☺

The problem is, they are going to skip a payment, keep the funds on the books, and claim they have a balanced budget.

OntarioVanMan · Feb 20, 2015

I like the recent trend of sneaky taxes, hidden tax....and they make you feel good at the same time....

Increase the speed limit!! nothing like dropping ones MPG and having to buy more fuel!! oh gee more fuel tax revenue...how'd that happen!

muttly · Feb 20, 2015

OntarioVanMan said:
I like the recent trend of sneaky taxes, hidden tax....and they make you feel good at the same time....

Increase the speed limit!! nothing like dropping ones MPG and having to buy more fuel!! oh gee more fuel tax revenue...how'd that happen!

Interesting point of view... On the flip side of that... If everyone went faster, there would be fewer drivers idling, and wasting gas in traffic jams. Lol (sarcasm)

OntarioVanMan · Feb 20, 2015

muttly said:
Interesting point of view... On the flip side of that... If everyone went faster, there would be fewer drivers idling, and wasting gas in traffic jams. Lol (sarcasm)

Yes and logbook drivers can get an extra couple miles in in their day...like am surprised Walker hasn't cashed in Wisconsin must be one of the last 65 mile an hour states!

Pilgrim · Feb 20, 2015

davekc said:
Well sure. Doesn't appear any different than what we do now on the federal level. That is why we are 18 trillion in debt. He is walking a fine line banking on restructured lower interest rates and a certain level of income and budget cuts. Or, like most, "just kicking the can down the road".
It's all the rage with government finance.

This is nothing new, since most states (except maybe CA) by law have to "balance" their budgets.

MADISON (AP) – Gov. Scott Walker’s administration plans to skip $100 million in debt payments this May to help deal with a budget shortfall.

The Milwaukee Journal Sentinel reported Tuesday on a memo from the nonpartisan Legislative Fiscal Bureau that discussed the plan. The tactic has been used by Democratic and Republican governors for years as a short-term budget-balancing move.

Since 2011, more than $1.5 billion such payments have been delayed.
Delaying the $108 million payment helps avoid the need for a special bill in the Legislature to balance the budget that ends on June 30. That could be an unwanted distraction for Walker as he ramps up efforts for a likely 2016 presidential run.

The accounting move will require higher principal and interest payments in coming years.

Walker to delay $100 million in debt payments | FOX 11 Online | WLUK-TV

davekc · Feb 20, 2015

This may be just a case of Ragman trying to get extra credit.

Professor offers extra credit for attending anti-Walker budget rally | Fox News

Ragman · Feb 20, 2015

davekc said:
This may be just a case of Ragman trying to get extra credit.

Professor offers extra credit for attending anti-Walker budget rally | Fox News

I just point these things out.

paullud · Feb 20, 2015

Ragman said:
The problem is, they are going to skip a payment, keep the funds on the books, and claim they have a balanced budget.

I was just tossing out the idea that worked well for the federal government on a PR level. Just borrow money from one area, put it in another, and then it looks like your budget is balanced.

witness23 · Feb 20, 2015

The problem is, the Republicans including Scott Walker preach about fiscal responsibility, not cooking the books and balanced budgets without smoke and mirrors, then do the very same thing as their counterparts. I'm not saying it's right or wrong, hell, it's a legal maneuver, just don't cry and whine when Democrats do it.

It's called, You're full of chit Scott Walker.

Ragman · Feb 20, 2015

paullud said:
I was just tossing out the idea that worked well for the federal government on a PR level. Just borrow money from one area, put it in another, and then it looks like your budget is balanced.

Ah, got ya . . . ya, that would work also.

paullud · Feb 20, 2015

witness23 said:
The problem is, the Republicans including Scott Walker preach about fiscal responsibility, not cooking the books and balanced budgets without smoke and mirrors, then do the very same thing as their counterparts. I'm not saying it's right or wrong, hell, it's a legal maneuver, just don't cry and whine when Democrats do it.

It's called, You're full of chit Scott Walker.

It's easier to point fingers and tell everyone that the other side is worse than to live up to campaign promises.