Dean Martin

Arizona State Treasurer Dean Martin just sent out a news release saying he had to borrow $130.9 million today to make the required monthly payment to local school districts. Martin said the state didn’t have the cash on hand, primarily because it was counting on up to $433 million in federal stimulus funds.

Martin also suggests President Barack Obama’s administration is playing games with Arizona’s share of the stimulus, which possibly is a continuation of the high-scale assault on comments from Sen. Jon Kyl, R-Ariz., about ending the federal stimulus program.

“The Administration needs to either send the money, or repeal the program.  It’s becoming clear that the Administration is holding education funding hostage to bully Arizona into submission.  This is taxpayer money, not the Administration’s personal piggy bank,” Martin said.

The short-term debt is part of Arizona’s on-going state budget woes. House Republicans are now estimating that all of Gov. Jan Brewer’s vetoes have pushed the projected deficit back up to where it was before the Legislature adopted a budget early on July 1.

The state treasurer’s annoucement assures more gloomy clouds will be hovering when the legislative special session resumes Monday.

Posted in: Arizona Legislature • Arizona government • Congress • Election issues • Governor • Presidential campaign • Barack Obama • Dean Martin • federal stimulus • Jan Brewer |

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