No one knows where the money will come from.
When it comes to government spending, that quote seems to be pretty popular lately. In this case, it is referring to North Carolina’s massive $2.5 billion loan it owes the federal government; money it borrowed to cover unemployment benefits. Interest payments totalling $100 million are scheduled to being in September, but naturally Gov. Perdue thinks that we should just be able to wait until we feel like paying it back.
“We need to continue to hold off that interest payment for a couple years,” Perdue said.
Wish I could just “hold off” on the interest payments on my mortgage, school loan and credit cards. But if Perdue and other governors ask President Obama nice enough, he will likely cave to their requests. Most of us in the real world would call that avoiding your debts and kicking the can down the road, but in government that’s called “responsible cash flow management.”
Besides, that lead quote is wrong anyway. We all know where the money will come from.