Conservatively Speaking

State Senator Mary Lazich (R-New Berlin) represents parts of four counties: Milwaukee, Waukesha, Racine, and Walworth. Her Senate District 28 includes New Berlin, Franklin, Greendale, Hales Corners, Muskego, Waterford, Big Bend, the town of Vernon and parts of Greenfield, East Troy, and Mukwonago. Senator Lazich has been in the Legislature for more than a decade. She considers herself a tireless crusader for lower taxes, reduced spending and smaller government.

The state’s unaffordable debt problem

Economy


More bad economic news for Wisconsin. To confront a decline in tax receipts, the state finds itself in an ugly pattern of issuing debt at a faster rate than other states.

The Wisconsin Policy Research Institute (WRPI) reports that since the Legislature voted to allow the issuance of bonds during 1969, our dependence on debt has skyrocketed. Wisconsin ranks #12 in the nation among the states in debt per capita.
Our $1,720 in debt per capita  is $423 above the national average.

In Wisconsin, we tax, spend and borrow more than we have the ability to pay. The same holds for true for debt that is being issued at a pace the state is unable to afford. Negative ramifications are the result: a strain on the state budget leaving less money  for important programs and services,  an increase in the cost of ongoing programs, and a reduction in the state’s bond rating.


“When the new governor takes office in January of 2011, he’ll have the state’s large debt burden to thank for much of the state’s shabby fiscal condition.“

Read more here.

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