Tuesday, July 01, 2008

Seven billion dollars buys a lot of misery

The state of Kentucky started the new fiscal year Tuesday with $7,016,000,000 in bonded debt. As a percentage of our economy, that's more than every other state in the nation except Massachusetts and New York.

When lawmakers try again to pull money out of our economy for tax increases or borrow even more to spend, think how much better off we would be without the roughly $350 million a year in debt service we already have.