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IPFS News Link • Arizona's Top News

Debt Intervention and Denial: Arizona's Debt Increased 5X in Ten Years

06-09-2010 • AZcentral.com

Paying off that debt will strain state budgets for years to come. For the fiscal year that starts July 1, the state must make a $232 million debt payment out of its general fund. This latest borrowing to help cover the state's massive budget deficit is a stopgap measure, which some politicians say will leave Arizona having to spend hundreds of millions of dollars a year on repayments that could have been spent on programs or used to reduce taxes. "For a conservative Legislature, which is what we've tagged ourselves, we've borrowed a huge amount," said state Rep. Bill Konopnicki, R-Safford.

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Reported By Jack Gregson

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