Focus Newsletter “Scoop and toss”: State again uses financial move to push debt into future

May 17, 2016  •  No. 8
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  • Summary
  • In the past two decades, governors have restructured state debt in a way that generates funds for the cash-strapped general fund in the short-term while increasing state borrowing costs in the long run. Since 2000, these debt maneuvers have occurred 16 times for a total of $1.66 billion. This May, the state decided to forgo retiring $101 million in debt in favor of issuing new bonds to be repaid by 2024 at a total cost of $103.3 million. Some in Madison have termed the practice “scoop and toss.”

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