If North Carolina bumps up against borrowing capacity, should Greensboro and Guilford County budgetary expectations fall?

Sometimes I wonder
whether the world is being run by smart people who are putting us on,
or by imbeciles who really mean it.

 Mark Twain

Study: N.C. has little room to borrow

North Carolina has essentially exhausted its ability to borrow money for state buildings and roads if it wants to protect its top credit rating.

The annual Debt Affordability Study released today…says the state can only borrow an additional $9 million backed by tax revenues for each of the next five years and remain within self-imposed guidelines.

Officials base the recommendation on the assumption that annual debt service should be no more than 4 percent of state revenues.

The report also found there's no extra debt capacity for transportation projects until at least 2013.

Gary D. Robertson
Associated Press, February 2, 2010