MassDems = Highest per capita debt in Nation

Massachusetts:

Boston – State Treasurer Timothy Cahill offered a sober assessment of the state’s finances, saying the worst is not over. Cahill said not only are sales of lottery tickets dropping – meaning fewer local aid dollars for cities and towns – but Massachusetts is carrying the highest per capita debt burden of any state.

http://www.usatoday.com/printe…

With Deval Patrick and now 90% control of the legislature there is no control on spending here in MA.  The only thing they ever cut is local aid.  Our taxes go up, our tolls go up, our debt goes up and the special interests line their pockets with our money.

Can’t blame this one on Bush either.  He was the President in the other 49 states too.

About Mike "DD4RP" Rossettie

  • gary

    Don’t ignore the debt on deck:

    (1) $6.0 billion of authorized borrowing through the Massachusetts School Building Authority (MSBA); (2) already the State has ‘guaranteed’ through January 2009, $800 Million of turnpike authority deb; (3) the $3.5 billion bond bill signed earlier in 2008 for bridges (4) the $1.35 billion 5 year plan to build affordable housing (5) the $2 billion higher education bill for capital for colleges and university and the (5) $1 billion for life sciences incentives and infrastructure.

    With at least 25% of the State’s debt variable, a debt ratings downgrade would be calamitous considering that each 1 percentage point increase on 25% of the debt is at least $40 million per year added interest cost.

  • We passed EIGHT – count ’em, EIGHT – new bond bills expiring in 2043 in this CALENDAR year!!!  Not this SESSION, this YEAR.  Along with SIX supplemental budgets!  ONE of them was signed within TEN DAYS of Deval asking for additional 9-c cuts to combat the ‘fiscal crisis’!!!!

    Hows about you just don’t sign the SUPPLEMENTAL instead!!!!

    When I ranted, I was deemed dull and wonky.  NOW, we realize there’s too much debt.  OOOhhh.

    This was predictable from the MOMENT Deval eliminated the 16 year old bond cap…oh, did you miss that last year?