Governor Walker says the deadline to refinance Wisconsin's debt it today. The word 'refinance' suggests we will seek a lower interest rate and save money. But if you listen to Walker, he never actually says that. He says it will help him avoid having to lay off workers which is possible. But the truth about the money itself is that he's borrowing allocated tax funds for the May debt payment to balance his current budget. That borrowing will result in another 14-25M in interest owed by the State turning 165M into nearly 200M. The argument can be made that that losing jobs is worse for the economy than acquiring some additional debt. But that argument rings hollow when you consider the impact of Walker's and the Republican's budgets on the economy as a whole. Beware those who treat fiscal responsibility as an ENDS instead of a MEANS. Cutting spending by the by government during a recession when the general public and private enterprise is skittish about THEIR spen...
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