Mass. lawmakers OK nearly $16 billion in borrowing

Aug 12 2008

Mass. lawmakers OK nearly $16 billion in borrowing

By Steve LeBlanc, AP

"They always pass these authorizations with a lot of fanfare as if they are going to spend the money immediately, but a lot of these bond bills are over five or ten years," Widmer said. "There is the issue of giving false expectations that they'll be spent in the near term." Widmer said the level of authorized borrowing, while unusual, doesn't pose a fiscal risk to the state in part because of a self-imposed cap on the amount of bonds the state can issue in a single year.
 
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