Monday, January 26, 2015

Will T. Scott: $34 billion is enough debt

Frankfort Democrats are circling their wagons around plans to plunge Kentucky $3.3 billion deeper into debt to cover years of state pension mismanagement, choosing to ignore the realities that massive taxation or more debt are not solutions to the pension system. Republican gubernatorial candidate Will T. Scott says enough is enough.

"They are just moving debt from one pile to another and, worse than that, if we do this for KTRS we will have to do it for KERS too so that means at least six billion," Scott said. "These same people are pushing casino gambling but they want to spend that revenue on more new programs and that's wrong. The only way to expand gambling in Kentucky is to mandate in the Constitution that ninety five percent of the money goes to fix our $40 billion pension problem."

"Kentucky has the worst pension problem of any state and Frankfort is still trying to poke the problem with a stick. The growing chorus of more debt, more debt, and even more debt isn’t a solution. I'm running for governor because Kentucky has a promise to keep that runs a lot deeper than allowing politicians to vote themselves wealth from taxpayers' pockets."