The growing debt you probably didn’t know existed
They pretend to ‘balance’ the budget, by ‘rolling over’ (i.e. putting of paying bills due) liabilities to some time in the future–just to make YOU think they lessened the debt–it’s not real. Our elected officials are bilking us by day and robbing us by night.
“The manner in which Arizona’s elected officials are acquiring debt is also troubling. Since the late 1990s, Arizona governments have migrated toward non-voter-approved debt.
Certificates of participation (COP), municipal property corporations (MPC) and lease-purchase (LP) agreements are not only accessed without voter scrutiny, they are not subject to constitutional debt limits and draw primarily on the general fund of the entity that sells them.”