NC Getting Out Of Debt

State government has more room to borrow money than it did last year because tax revenues keep growing and debt is getting paid off.

A state report released Thursday determined that North Carolina
could issue about $480 million in additional debt annually over the
next decade and remain financially sound.

Last year, the Debt Affordability Study concluded the state
could take on an average $384 million annually.

State Treasurer Richard Moore chaired the panel that conducted
the study. He said state lawmakers must stop creating new debt that
doesn't require voters to approve the borrowing before it can
occur.

The panel's report also said the state could borrow an
additional $176 million each year from two pots of dedicated
transportation money. This is the first year the study examined
transportation debt.


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