Why It's Unwise To Accept Federal Funds
Written By: Travis Buhler | Posted: Wednesday, August 3rd, 2011
"Federal revenues make up approximately 29% ($9.3 billion) of the Wisconsin state budget on an annual basis," says Mike Huebsch, Secretary of the Wisconsin Department of Administration. This has left many in the state government worried about how the state will pay its bills if the Federal Government can't work out a deal to raise the debt ceiling. Huebsch's plan is to borrow from various general fund accounts until a deal is made. "Wisconsin has sufficient cash in the short-term (at least three months) to continue to fund federal obligations if desired," he says.
This leaves an Assemblywoman anxious, "Even if they raise the debt ceiling this year, this problem is going to come back," Michelle Litjens, R-Vinland speaking to AP said. "Wisconsin needs to find a way to provide services with state money if the federal money doesn't come."
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