Friday, March 28, 2008

Put a Cap on State Debt 

Filed As:  Budget and Tax

Writing for the Flint Hills Center for Public Policy, Jonathan Williams says that Kansas lawmakers can improve the state's economy by showing some restraint.

One method is to put a cap (PDF) on the amount of debt the state carries, as a percentage of state general funds.

Increasing debt is for governments, just as for households, a way to live large on the cheap. But as events of the last few months have shown, excessive debt can lead to financial nightmares.

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