NC Debt Study Says A Little More Debt Possible

An annual report says North Carolina state government could issue a little more debt in the next fiscal year and remain within self-imposed borrowing guidelines.

A panel led by State Treasurer Janet Cowell has completed its debt affordability study. It projects the state could issue another $125 million and bring annual debt service to no more than 4 percent of operating revenues. The report says the state is currently slightly above the 4 percent cap but would fall below it by mid-2014 without a borrowing spree.

Legislators and the governor review the report while making decisions they hope will let North Carolina retain its top credit rating on borrowing for building construction.

The report says there's no extra capacity to issue state bonds for transportation projects for another two years.

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  • by Anonymous on Feb 2, 2012 at 05:13 AM
    They need to stop spending more than they take in, we all have to do that, it is past time they start acting like responsible adults.
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      by Obama Snake Oil co on Feb 2, 2012 at 06:01 AM in reply to
  • by RN Location: Pitt on Feb 1, 2012 at 08:39 PM
    Well at least we got one thing good going for us in NC....Perdue is getting out. Now let's get a republican in here so we can get this mess fixed !!
  • by broke on Feb 1, 2012 at 06:28 PM
    If they can justify going further into debt then they will. Better borrow some money to buy plenty of red ink. They will definitely need that.
  • by Anonymous on Feb 1, 2012 at 06:19 PM
    We need a federal limit on debt similar to what NC has.

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