Projections: Repaying State Debt To Take Larger Share Of Revenue
Officials Say Debt Payments Will Total 4.5 Percent Of Income By 2012
Updated: 6:53 am CDT June 22, 2009
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READ: Visit Channel 3000's Politics SectionREAD: Channel 3000's "Reality Check" SeriesINTERACTIVE: Write Your Rep.VISIT: Follow Money In PoliticsMADISON, Wis. -- Repaying the state's debt will take a greater share of Wisconsin's revenue in the coming years.By 2012, the annual payments on state debt will likely consume at least 4.5 percent of the state's total income from taxes and fees, according to projections by the Legislature's and Democratic Gov. Jim Doyle's budget offices.State officials have long considered a 4 percent threshold to be a reasonable limit.Payments on debt would rise from $487 million in 2011 to $650 million in 2012 -- an increase of 33 percent.Todd Berry, president of the Wisconsin Taxpayers Alliance, said the state has been pushing the borrowing and debt envelope because it hasn't come to grips with its budget problems.
Previous Stories:
- June 20, 2009: State Budget Writers Weigh Tax, Immigration Policy
- June 18, 2009: Senate Budget Limits Funding For Investigations
- June 18, 2009: State Budget In Limbo Until Tuesday
- June 18, 2009: Wisconsin Senate Passes Budget
- June 17, 2009: Senate Democrats Look To Make Changes To Oil Tax, Other Budget Measures
- June 16, 2009: Senate Democrats To Take Up Budget Wednesday
- June 15, 2009: State Senate Democrats Talk Budget
- June 15, 2009: Assembly Passes $62 Billion Budget
- June 15, 2009: Closed-Door Meetings, Late-Night Votes Mark Budget-Writing
- June 13, 2009: State Lawmakers Pull 'All-Nighter' Debating Budget
- June 12, 2009: Assembly Begins Wisconsin State Budget Debate
- June 11, 2009: Assembly To Take Up Budget Friday
- June 11, 2009: Assembly Democrats Don't Want Nursing School
- June 10, 2009: Democrats' Proposal Could Increase Fuel Cost
- June 10, 2009: Assembly Democrats Back Away From Liability Change
- June 9, 2009: Speaker: No Major Budget Changes
- June 8, 2009: Budget Cuts Could Mean Taller Grass For State Parks
- June 8, 2009: State Budget To Be Debated Wednesday
- June 5, 2009: Citing Budget, State To Cut Renewable Energy Fund
- June 3, 2009: AG Lobbies To Restore Budget Cuts
- June 3, 2009: Republicans Question Earmarks In Budget
- June 1, 2009: State Lawmakers Find Funds For Pet Projects
- May 29, 2009: State Cuts Force School Districts To Trim More In Budgets
- May 29, 2009: State Panel Works To Finalize Budget Plan
- May 27, 2009: Busy Weekend For Joint Finance Committee
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