Thursday, April 16, 2009

Do we get an AMEX Black Card for that?

Maybe it's not the end of the world that a budget hasn't landed on the Governors desk.  I mean, why do we need a budget when we can just borrow from the state credit card.  And hey, at .51% for the interest rate, that's basically free money!

There is a reason credit card companies offer introductory 0% cards like it's water.  People use it as a crutch to hang on just a little longer.  In July, the state will have to borrow the money from an outside bank likely at a much higher interest rate.

Quote of the day goes to Treasurer Dean Martin- "As Warren Buffett said, when the tide goes out you find out who was swimming naked," Martin said. "The tide of state revenues is out. And the state has been swimming naked for a long time."

Republic Story Here.

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