Mon September 24, 2012
Report Shows Kentucky's Debt Continues to Increase
An annual report that describes the state’s financial outlook shows that Kentucky has once again gone deeper into debt.
The report, when compared with past years, shows the state added more than $110 million in debt during the last fiscal year.
Tea Party activist David Adams says that number shows that claims by Governor Steve Beshear that he’s balanced the budget 10 times are false.
“I reject that we’re actually cutting state spending," says Adams. "If you look at year over year spending, we are spending more now than we ever have before and that is set to only increase.”
The governor's office declined to comment.
Adams says lawmakers need to re-open the latest state budget as soon as possible and make real cuts to spending.
Much of the new debt came in the form of bonds for various projects.