An important new law on state debt emerges from the 2013 N.C. legislative session.
RALEIGH — Gov. Pat McCrory has signed into law a bill substantially scaling back the amount of debt the state can assume without voter approval. Supporters say the new law will ensure taxpayers have a say in key long-term debt decisions. Rick Henderson, Carolina Journal managing editor, discussed the issue with Donna Martinez for Carolina Journal Radio.
John Hood on legacy of Gov. Jim Holshouser; House legislators debate film incentives; Senate legislators debate local smoking restrictions; voucher supporters explain their reasoning; Rick Henderson on law that limits state debt without voter approval
RALEIGH — Bypassing statewide bond referendums has cost North Carolina taxpayers an estimated $261 million in extra interest payments on state debt since 2005. That’s a key finding in a new John Locke Foundation Spotlight report. JLF is releasing the report as some N.C. legislators push a measure that would limit the amount of nonvoter-approved debt North Carolina could take on in the future.
Jon Sanders on crony capitalism in N.C.; Beth Wood on conflict with ALE; Raleigh business owner reacts to "you didn't build that" comment; Bryan Riley on lack of support for free trade among N.C. congress members; Fergus Hodgson on N.C. unemployment debt.
RALEIGH — The federal debt has grown substantially in recent years. Some observers wonder whether that debt could have a long-term negative impact on the American economy. Thomas Grennes, professor of economics at North Carolina State University, says recent research suggests an answer: Beyond a certain threshold, government debt slows economic growth. Grennes discussed the topic with the John Locke Foundation’s Shaftesbury Society and with Mitch Kokai for Carolina Journal Radio.
It's true that borrowing can be abused, but in many cases debt is justified, and sometimes is recommended, even for governments.
Just when you thought there wasn’t anything else to learn about the former governor, it turns out that he had a hand in creating a multi-billion-dollar debt problem with our municipal power utilities.
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