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LFB: WI long term GAAP Debt up $1.44 billion since June 2011

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LFB: WI long term GAAP Debt up $1.44 billion since June 2011

Postby jonnygothispen » Wed Mar 13, 2013 11:16 am

Wisconsin's long term debt as of December 2012; Page 19, Table 10: http://legis.wisconsin.gov/lfb/publicat ... suance.pdf
Table 10:
Outstanding Debt...
Total $14,197,603,521

The LFB GAAP Long term debt as of June 30, 2011 ~ Table 8 at top of page 33: ftp://doaftp1380.wi.gov/doadocs/2011CAFR_Linked.pdf
$12.923 (billion)
Walker pushed through 5 corporate tax breaks in early 2011 that is included in the June 30, 2011 Long term Debt figure. I found the total for the first 4 bills as adding $142 million to the 6-30-2011 figure, so you can safely say that Walker has added at least $1.44 billion to the GAAP Long term Debt from June 30, 2011 thru December 15, 2012. The LFB has said that both the June 30, 2011 and December 15, 2012 figures are calculated the same way and include: "the total of state general obligation debt, state revenue obligation debt, and state appropriation obligation debt."
Last edited by jonnygothispen on Wed Apr 10, 2013 11:05 am, edited 1 time in total.
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby Human » Wed Mar 13, 2013 4:24 pm

$3.6 Billion? That number is oddly familiar: http://www.jsonline.com/news/statepolitics/115501969.html
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby Shorty » Wed Mar 13, 2013 9:27 pm

Too bad we couldn't recall Walker before he did more damage.
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby jonnygothispen » Thu Mar 14, 2013 11:25 am

Human wrote:$3.6 Billion? That number is oddly familiar: http://www.jsonline.com/news/statepolitics/115501969.html
Thanks for noticing that. Always good to stay abreast of things, right?

of course, you're aware of the fact that the previous $3.6 billion "deficit" Walker cited was a figure created by the heads of agencies Walker appointed, and was only money they requested, and not an actual deficit,right?

Whereas the $3.6 billion increased debt that has occurred happened solely because of Walker's spending problems and corporate giveaways while the boys in the Capitol are spending a surplus that doesn't exist.

Bonus points: Walker created the "surplus" by taking out at least $560 million in loans with $156 million in additional interest payments, and possibly took out another approximately $450 million in loans, while deferring all of the payments to future years for future Governors to deal with. While he also withheld other guaranteed payouts to give the illusion of a surplus.

So what I think you're saying is that it's better to create more debt and lie about it than to address the problem because lying about a surplus that doesn't exist makes some people "feel good."
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby jonnygothispen » Thu Mar 14, 2013 11:28 am

Shorty wrote:Too bad we couldn't recall Walker before he did more damage.
Find a single main stream media article that tells the truth about Walker's increased debt before the recall election and we'll talk...

Everyone I know who say they voted for Walker said they did it because he "balanced the budget" or they were misinformed about unions. Wisconsin media was obsessed with bashing unions while they never mentioned the special interests behind Walker's agenda, nor did they discuss what the effects would be.
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby SidSeven » Wed Mar 27, 2013 2:46 am

I knew Walker would just move numbers around on a big spreadsheet. It's a neat trick, but I really don't believe Walker understands Wisconsin. We ain't that stupid. I can see him getting defeated in the next Election, IF the Dems can run someone who can actually speak truth to power. Walker is good at what he's doing, but in the end, he is a punk, and a hack. ALL the Republicans I know have vowed never to vote Republican again, except 1.
That, I find, is very interesting.
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Re: LFB: WI long term GAAP Debt up $3.6 billion since June 2

Postby jonnygothispen » Wed Mar 27, 2013 2:41 pm

I certainly hope so. I thought Barret was a good candidate but couldn't seem to find a personally compelling way of conveying himself, and combined with the power of Walker's Koch-cane fueled TV ads, it made winning impossible.
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