A $600 million payday loan?
June 26, 2008 | Uncategorized | Comments (0)Seems excessive to the Payday Pundit. We think this Nevada editorial is using sarcasm. From the piece:
Lt. Gov. Krolicki has stated he will have to find the money elsewhere to fund the public health programs, but added “there is time for that.” That is a pretty nebulous statement, as where exactly is “elsewhere,” when the governor and his staff are cutting social services programs left and right? The explanation given to me by the Lt. Governor is that he would ask that $4.5 million be set aside out of the $600 million buy-out of tobacco money for the social service programs for a year or two, and then get it from the general fund afterward, since the economy would be improved. What kind of guarantee is that? You don’t need to be a mathematical genius to figure out why you would give up a 25 year funding stream of $1.2 billion dollars (legislated in 1999) for a pay day loan of $600 million as a quick fix for the state budget for 2009-2010.
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