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Thread: Minnesota Loses AAA Rating on Budget Problems

  1. #41
    Sage

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    Re: Minnesota Loses AAA Rating on Budget Problems

    At the same time, it should be noted that if one strips away the gimmicks about to be deployed, the State's budget is not balanced. Instead, the illusion of balance is created from a combination of borrowing from the Tobacco Fund and from deferring some payments until the next fiscal year. Those are exactly the kind of gimmicks that were cited when the State's credit rating was cut. Hence, the credit rating will not be restored anytime soon and the impact of the reduced credit rating will be higher interest expense and a somewhat worse fiscal position.

  2. #42
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    Re: Minnesota Loses AAA Rating on Budget Problems

    Hopefully we're not still paying them, since they're not doing ****.

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