N&O reports the state’s annual Debt Affordability Study released today finds that North Carolina can only borrow $9 million dollars a year and remain within guidelines that maintain debt at 4 percent of the state’s budget.
To put this into perspective $9 million dollars amounts to less than 1 percent of the $1.7 billion in debt the state has accrued solely as a result of high unemployment this year alone (ranking 6th in the nation).
How does this fit in to the extensive transportation and capital city building project plans – not mention the tremendous cost of proposed health care and environmental legislation?
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