So now you know how Scott Walker borrowed money for road construction, without increasing our debt. He took money away from the University of Wisconsin for building projects.
If that wasn't bad enough, that little trick will cost the UW $30 million more. Now that "fiscal conservatism."
The state Legislature's nonpartisan budget office says the state could have to spend roughly $30 million more on several University of Wisconsin System building projects that were delayed in the last budget. Gov. Scott Walker and Republican lawmakers froze bonding for all but a couple building projects in the last budget. That let them continue to borrow for roads while still keeping overall bonding low.
Oshkosh Democratic state Rep. Gordon Hintz, who asked for the Fiscal Bureau memo, said it shows the folly of delaying these projects in the first place. "It's not any more fiscally responsible to delay doing them only to have to pay more in the future to get the same projects done simply because you can't make good financial decisions," Hintz said. "This was an example of the cost of inaction.”
Bonding will once again be an issue in the next budget as lawmakers and the governor continue to struggle with how to fund transportation ... lawmakers, including Assembly Speaker Robin Vos, who say current levels of road bonding are unsustainable.
But don't take my word for pointing out Walker's folly and bad budgeting, they're proud of the shell game:
Walker spokesman Tom Evenson said, "The last state budget included the lowest levels of bonding in at least 20 years, and the governor will seek to keep bonding low in the next budget," Evenson said.