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Resolution 8225 is financially unsound | Letters | Oct. 21
The State Voters’ Pamphlet does not properly explain the effect of Senate Joint Resolution 8225, which would increase the total amount of debt the state can incur.
Currently, the state’s total debt is limited to that amount which can be serviced (principal and interest payments) by 9 percent of the average general revenues of the state government.
The proposed constitutional amendment Resolution 8225 seeks to raise the total amount of debt allowed by deducting interest payments from the federal government, which is itself borrowing more money to pay the interest payments of the state, as well as interest on the national debt.
Increasing the percentage of debt to the state general revenues is not a sound financial practice. Borrowing more money just to pay the interest and increasing the national debt, which future generations will be forced to pay, is immoral.