States, leery of taxes but facing demands for services, lean hard toward m

[Judi Lynn]

States, leery of taxes but facing demands for services, lean hard toward more borrowing


By ROBERT TANNER
The Associated Press
3/28/04 1:35 PM


Buy now, pay later. It sounds like a late-night TV ad, but the lure of borrowing is attracting many state leaders faced with long-delayed demands for services and voters who've proven unwilling to support new taxes.

Many states this year are looking at big-dollar borrowing plans, on top of two years of record-breaking new debt. With elections just ahead for 11 governors and most legislatures, support for taxes is slim.

Advocates argue that low interest rates and the economic spark from a burst of government spending makes borrowing a sensible choice. Critics say bonds just delay and inflate costs for government programs, while damaging states' financial health -- especially if they're being used to pay for routine business.

"We've taken borrowing to a new level," said Illinois GOP state Sen. Steve Rauschenberger. He is harshly critical of Democratic Gov. Rod Blagojevich's plan to borrow $1 billion for road work, after the fund was raided last year to pay daily costs of running state government. "The piper's going to come due."
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[Rex]

1. Instead of raising taxes they will steal from our future generations

who will, in turn, steal from their future offspring. All the while sales taxes go up, municipal fees go up, but GOD FORBID we raise 'taxes'. :eyes:

[toopers]

3. I think the sales tax is the answer

eom

[yardwork]

2. Americans are spoiled.

Listening to generations of politicians who promise that we can have the good life without paying for it, Americans don't want to face reality.