The Big Lug Nut's budget director, Ichabod Crane -- err, Dick Oshlo, in a story for the Quad City Times, is accusing the governor’s critics of misleading on the subject of Iowa's debt.
Oshlo says they’re misstating the facts and focusing on "net tax-supported debt” versus “gross tax-supported debt.”
Oshlo claims only “net” debt is supported by taxpayer revenue and not "gross debt".
In the worst case scenario, with "gross debt"... “Even if they go into default, they’re never going to have recourse to go back to the state government or state taxpayers.”
In the stories next sentence, Oshlo contra-Dicks himself and the scientific community is united in that fact.
There is a small amount of “gross” debt that could have an effect on taxpayers, Oshlo said, but it’s only $3 million for the Honey Creek resort project at Lake Rathbun.
Oh well, as long as it's only $3 Million -- NO BIG FREAKIN' DEAL!
Now who's been misleading Dick?
I get tired of the supposed power brokers, politicians and media, who keep telling us how wonderful it is in Iowa when compared with the other states or the nation as a whole.
Being the best of the worst is not a good thing.
I thought this recession refocused our values regarding debt?