Chomsky
03-02-2011, 11:14 PM
The way governments finance their deficit spending is by selling bonds backed by the treasury of the state or local government to private institutions and individuals, the government then pays back the principal plus a fixed interest rate that is determined by the government institutions credit rating and the time it takes the bond to mature. The bond revenue for the state of Wisconsin from July 1 2009 to June 30 2011 is $3,581,172,100, which makes up 5.4% of the state's budget.
http://milwaukeestory.com/index.php/2011/03/01/what-happens-if-gov-scott-walker-does-nothing-in-wisconsin/
http://milwaukeestory.com/index.php/2011/03/01/what-happens-if-gov-scott-walker-does-nothing-in-wisconsin/