Iowa's Debt Will Climb
Sunday, December 6, 2009
By Keri Waterhoues
Iowa's government debt has grown by almost $3 billion in the past few years and it is expected to take another hike in the current fiscal year, it is said to be partly because of Gov. Chet Culver's $830 million I-JOBS program.
According to an annual report that was just released last week by State Treasurer Michael Fitzgerald. Iowa's total state and local government debt is $11.6 billion. Cities had the greatest amount of debt, with $4.3 billion, followed by schools, with $2.3 billion. State government authorities and agencies have a combined debt of $2.56 billion.
According to an annual report that was just released last week by State Treasurer Michael Fitzgerald. Iowa's total state and local government debt is $11.6 billion. Cities had the greatest amount of debt, with $4.3 billion, followed by schools, with $2.3 billion. State government authorities and agencies have a combined debt of $2.56 billion.
This amount of debt is going to affect everyone. This is a large amount of debt and it's sad that it's just going to get worse.
3 comments:
$11.6 billion is an unbelievable amount. I don't think many people really realize how much money this is. It would be interesting to know our state's plan to get us out of this debt.
Maybe this is why they cut the Iowa Grant from everyones financial aid. I find it upsetting that the city spends millions on a down town 'sculpture garden' and cuts funding for education ,in the midst of a struggling economy no less.
-Tessa Leone
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