Right. Sure thing.
Originally Posted by SlevinKelevra
Wisconsin Defends Debt Maneuver Offering Short-Term Budget Boost - The Bond Buyer
The move, labeled by the non-partisan Legislative Fiscal Bureau as a debt restructuring, has put the Walker administration on the defensive. Many administrations, including Walker's, have in the past turned to debt restructuring to balance the books including the practice of "scoop and toss" in which long-term debt principal payments coming due are covered by a new debt issue.
"The proposed restructuring….would involve delaying $108 million in GPR (general purpose revenue) principal that had been previously scheduled to be retired," said a memorandum outlining the proposal by LFB in response to a request from minority Democratic lawmakers on the Joint Finance Committee.
The state's capital finance team defends the move, calling it a "debt management tool" that will allow the state avoid the more costly issuance of long-term debt to replenish its capital fund for projects.
Gov. Scott Walker responsible for record debt payments, Democratic rival says PolitiFact Wisconsin
As for assigning responsibility, Vinehout conceded in her column that, like Walker, Doyle also stretched out debt payments in order to manage the state budget. But she suggested Walker's restructuring is what led to the record rate of general fund spending on debt payments.
Experts from the fiscal bureau, the nonprofit Wisconsin Budget Project and the nonprofit Wisconsin Taxpayers Alliance, however, told us that factors other than Walker's debt payment restructuring also play a role.
Doyle and Walker, and governors before them, have done long-term borrowing that is still being repaid. In other words, much of the debt, and debt payments, were inherited by Walker from previous governors -- something Vinehout acknowledged to us in an interview.
Another factor that occurred under both Doyle and Walker is an increase in bond issues that are repaid with general fund dollars, rather than simply gas taxes and related funds, to do major transportation projects.[/
So all the Progressive Machine propaganda, multiple threads by you, and the blather of the grubbers reacting to dog whistles are just a bunch of BS.
How many examples of this type of yellow/hit piece journalism is required before the dogs stop barking at the whistles? I predict there is no amount of evidence that would cause that to happen.