Wisconsin
Wisconsin should use surplus funds to pay down debt — Richard Pinnow
The posturing continues on the state budget surplus. We keep hearing about more spending or more tax cuts, depending on which side of the aisle is talking.
Missing from this debate is any discussion or media coverage about paying down Wisconsin’s debt, which according to the website statista is more than $20 billion.
When the original state budget was being drafted, I bumped into a state senator and asked him what Wisconsin’s debt was. He didn’t know. I asked about the constitutional requirement for a balanced budget and how the debt played into that. He responded that as long as there was enough money to make the debt payments, the budget is considered balanced. I feel any budget surpluses should be used solely to pay down the debt.
Increased spending or tax cuts are more appropriate discussions to have when there is no debt.