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View Diary: The Underreported Story of Scott Walker and Foreclosure Fraud (11 comments)

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  •  It helped a little, but he's still got $530 M hole (8+ / 0-)

    he's 'covering' by spacing out payments over 5 years (and we'll be paying $120 M plus interest annually for 5 years due to this 'smart' move). This sort of 'move' isn't technically allowed by our Constitution since it specifies a 2 year budget cycle, which includes an annoying requirement to balance 'the budget' every year--and especially that we can't be spending more than budgeted in and as revenues allow in the 2nd year of the cycle.  In this 2nd year, the state income/expense/budget must be accurately reconciled, typically via a bill called the Budget Reconciliation Bill, to reflect the true revenues brought in and actual spending.  Walker & GOP have used that bill in the past to ram through lots of other unpleasant new law changes and more tax breaks for their cronies and ultra-rich.  Walker's deficit spending budget gambit only legally can push off repayment by 1 year, unless somehow the state Constitution will be amended and $30 million doesn't begin to cover the problem created by the GOP passing all the tax cuts leading to this revenue crisis.

    When life gives you wingnuts, make wingnut butter!

    by antirove on Fri Jun 01, 2012 at 01:58:57 PM PDT

    [ Parent ]

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