Monday, July 13, 2009

Made-up money.

Details have finally come out about the new budget compromise.

One aspect particularly frustrated me.

One major change is a plan to generate an additional $247.1 million from "cash management" and other moves. The bulk of that amount comes from restructuring more state debt, said David Ellis, assistant director of the state budget office.

The state already has restructured more than $400 million in Ohio debt this year to free up cash now in exchange for higher interest payments in the future.

Seriously? This is what now passes for responsible financial management?

It's exactly the kind of ridiculousness from the Governor's office that has gotten Ohio into the hole it's in right now. It's the pure definition of sacrificing the future in exchange for political convenience.

Someone let me know - where does one pickup a recall petition? Yeah, it's too late, but it sure would send a message.

No comments:

Post a Comment

No profanity, keep it clean.

Note: Only a member of this blog may post a comment.