Kentucky state finance officials took a trip north this week to play with New York bankers. Net losses we know about so far total around $30 million dollars covering up Frankfort politicians’ insatiable overspending habit and predilection for smoke-and-mirrors routines designed to make state budgets appear balanced with newly-issued bonds.
Again, that $30 million represents net losses flushed down the toilet merely to facilitate our debt restructuring scheme. It doesn’t begin to address any other issue.
Democrats and Republicans are equally to blame and all Kentuckians will continue to pay a steep price until we put a stop to spending money we don’t have to create a false fiscal picture for electoral purposes.