(H/T – Dad29)
You may or may not remember the earlier calculations of just how much Jim “Craps” Doyle (WEAC/Potawatomi-For Sale) wants to raise taxes in Wisconsin over the next two years. Now comes news from Assembly Speaker Mike Huebsch that Craps wants to borrow an additional $3 billion over the next two years to feed Hugh Gubmint:
"The Democrats budget puts an additional $3 billion on the taxpayer’s credit cards. To put that in perspective, if Wisconsin had a 20 year loan at 4.41% to pay that it off, the Democrats’ spending spree would cost taxpayers an extra $19.8 million a month. A child born today will leave the hospital with a $861.43 credit card bill thanks to the Democrats’ borrowing.
“The credit card bill is in addition to the Democrats’ plan to raise taxes by $536 for every man, woman and child in Wisconsin, hitting the average family of four to the tune of $2,144. Our children will pay for their spending spree for the rest of their lives….”
That’s right, sports fans. Increasing the size of state government by the cumulative effects of inflation and income growth isn’t enough for Craps. Increasing the burden of that government by $1.74 billion beyond the cumulative effects of inflation and income growth isn’t enough for his fellow Dem members of the Party-In-Government. As Dad29 said, “That’s hardly sufficient for his plan to transform Wisconsin into a State whose residents will have zero after-tax disposable income.” (emphasis in the original)
Talk about your “structural deficits”.
Does that count the $70 billion from the soda tax?
I don’t believe so.