ADVERTISEMENT
Advertise Here

Spin Control

State treasurer to Lege: OK, we can pay the bills.

OLYMPIA — State Treasurer Jim McIntire added his kudos to the just concluded legislative session with a note that should make all Washingtonians feel a little better.

The state now probably has enough money to pay its bills through June 2011.

Not that the state would be bouncing checks or anything. But earlier in the session, McIntire notified legislators and the governor that the rate that money was coming in was not keeping pace with the way it was going out, and Washington could hit a point in the fall were its reserves were so low it might have to borrow short-term to pay some of its obligations. Like payroll.

“Based on a preliminary assessment of the tax and budget package, we believe we have a sufficient cushion to ensure we have the cash necessary to pay our bills,” McIntire said.

Other states, most notably California, had to issue I.O.U.s at one point because of cash flow problems.


Please keep it civil. Don't post comments that are obscene, defamatory, threatening, off-topic, an infringement of copyright or an invasion of privacy. Read our forum standards and community guidelines.

You must be logged in to post comments. Please log in here or click the comment box below for options.

comments powered by Disqus
« Back to Spin Control

Get blog updates by email

About this blog

Jim Camden is a veteran political reporter for The Spokesman-Review.


Jonathan Brunt is an enterprise reporter for The Spokesman-Review.


Kip Hill is a general assignments reporter for The Spokesman-Review.

Nick Deshais covers Spokane City Hall for The Spokesman-Review.

Latest comments »

Read all the posts from recent conversations on Spin Control.

Search this blog
Subscribe to this blog
ADVERTISEMENT
Advertise Here