Johnson understand basic economic reality? Binker: "N.C.'s credit card is maxed out"

"...the state has exhausted its General Fund debt capacity until fiscal year 2013.

Did Guilford County just borrow about $184 million?

Additionally, the combined debt capacity of the Highway Fund
and the Highway Trust Fund has been exhausted until fiscal year 2014.

...The Highway Fund and Highway Trust Fund’s percentage
also slightly exceeds its 6 percent target.

...the need for replenishment of the state’s reserves."

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"The translation of all that really is:

The state SHOULDN'T borrow any more money and if it does so,

North Carolina will put its AAA bond rating at risk.

What could be a better time for Greensboro

to borrow to build a Performing Arts Center

than when NC state can't borrow any more? 

So we've not hit a hard limit so much as we've gotten to the point

where we've borrowed as much as is considered fiscally prudent.

Definately the best time

to borrow to sell some condos for Roy and Robbie?

...the state has pension and health care liabilities to worry about,

...growing debt to the federal government

incurred to pay for unemployment claims.

Wasn't Greensboro given about $50 million of unfunded liabilities last year

from North Carolina's state government?

...If the legislature does authorize any new big repair

or renovation projects,

they'll have to budget cash up front

rather than borrowing on down the line.

Should Greensboro and Guilford County follow the same path

of "pay as you go" that the State has?

...By letting the 1-cent sales tax expire last summer,

the General Assembly

effectively lowered North Carolina's self-imposed debt ceiling."

Like the way the City of Greensboro did,

by using a variable rate to increase indebtedness

even more than the limit?

Binker