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Sep 9 2016
"Theoretically, with low interest rates, sure it's a good time to borrow in a vacuum," Andrew Bagley, vice president for policy and research at MTF, told the News Service. "But we're up against the debt limit, we have an operating budget from which we just had to carve out $650 million in FY16, there are concerns about whether revenues will show up and we have debt service costs that go up every year." At $2.64 billion, the fiscal 2017 debt service allocation is up $640 million -- or 30 percent -- over fiscal 2008, according to MTF. "It's a hard time to argue that we really should be borrowing more, even though we sure do have enormous capital needs," Bagley said.
Jun 4 2012
Michael Widmer, president of the nonpartisan Massachusetts Taxpayers Foundation, a business-backed fiscal watchdog group, said it is not unusual for long-term debt to grow. The state usually spends about $1.5 billion to $2 billion annually on capital projects such as highways and schools, he said.
Dec 13 2011
Mar 30 2011
Aug 26 2010
Aug 12 2008
Mass. lawmakers OK nearly $16 billion in borrowing
Jul 30 2008
Jul 18 2008
"This is one of the most irresponsible proposals I have seen seriously considered by the Legislature in my 16 years," said Widmer, whose organization is backed by business. "We are just heading off a cliff, Thelma and Louise, with a smile on our face."
Widmer called for a gas-tax increase and new tolls to help the Turnpike Authority meet the terms of its Big Dig-related debts.