Monday, April 21, 2014

Kentucky state debt now highest ever

Kentucky's state government appropriation-supported debt reached an all-time high in a newly released report from Frankfort.

The debt level as of December 31, 2013 was just short of nine billion dollars an increase over the prior twelve months of more than $255 million. The official count is $8,934,679,928 as reported in Appendix B of the Semi-Annual Report of the Kentucky Asset/Liability Commission.

The report is filed by law every six months. I'm not aware of any newspaper article ever being written on the subject of Kentucky's mounting debt found in this report. The debt level in this report in the month Gov. Steve Beshear came into office was $6,123,678,909.

Kentucky's pension debt is not included in any of these figures.