The Sunflower State's Democratic Governor is Holding Citizens' Money Hostage to Pay for Own Overspending
Faced with a shortage of funds this year and unwilling to cut the bloated state budget, Kansas Governor Kathleen Sebelius is planning to welsh on the state’s debt to taxpayers who overpaid in 2008 and to put a hold on paychecks owed to state employees until the Republican-controlled state legislature allows her to break state law by borrowing hundreds of millions of dollars from already bankrupt state funds.
Breaking Borrowing Law
The Kansas Finance Council, which is made up of Sebelius and six state GOP leaders, is refusing to approve the Democratic Governor’s $225,000,000.00 borrowing plan because state law requires all such debts, called certificates of indebtedness, to be retired by the end of the fiscal year in which they were issued. Kansas’ fiscal year ends June 30, and the state has already taken out $550,000,000.00 in certificates that it likely won’t be able to repay. Approving the additional amount requested by Sebelius would push that debt total over three-quarters of a billion dollars with 4 1/2 months remaining to somehow find the money to pay it off within the timeframe required by law.
“We cannot issue more certificates if the funds will not materialize by the end of the year,” said House Speaker Mike O’Neal (R) in a press release. “Without the revised 2009 budget bill, there is no way that we can legally issue a certificate knowing full well that the money will not be available to retire the debt.”
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