To the Telegram:
This is the headline of a May 15 news article: Illinois is on “verge of financial disaster” state treasurer says. Illinois faces an estimated $45 billion in principal and interest payments on its outstanding debt. Adding to the states’ debt is $140 billion in unfunded pension and retiree health care liabilities. Every household in Illinois is responsible for $42,000 for unpaid government bills, pensions and health care liabilities, according to the state treasurer.
Another headline reads “California facing higher 16 billion dollar shortfall.” According to Gov. Jerry Brown, there will be severe cuts to schools and public safety if voters fail to approve tax increases in November.
Now consider some Wisconsin headlines: State finances in the black with increased revenue projections. Gov. Scott Walker’s budget turned a $3.6 billion state deficit into a surplus. He did this with a property tax decrease of 0.04 percent, the K-12 school tax levy decreased by more than $47 million for the 2011-2012 school year, and in balancing the budget, Walker paid off more than $800 million of debt from the previous administration.
Vote for Scott Walker on June 5 to continue the forward progress Wisconsin has made.