Thursday, May 01, 2014

Bond Downgrade: Kansas Credit Kaput

KMBC reports Red State heartache that and the fact that their economic theories are silly and don't work: "Moody's Investor Services reduces the bond rating for the state of Kansas over concerns about the state's sluggish economic recovery compared with other states and issues with long-term financial obligations."

Perspective: Why do Missouri lawmakers want to copy the Kansas tax-cut disaster?

11 Comments:

Anonymous said...

Brownbacks experiment of starving the Kansas economy has backfired.

Course we all knew that...after ten years of taxcuts for the wealthy, where are the jobs?

But the GOP lies because they're paid to lie by their corporate donors. We've all known this since Herbert Hoover was president!

But they believe if you repeat a lie often enough and try to sound expert, the sheeps will both believe it and reelect you. ALl the way to the poorhouse.

Anonymous said...

What? You mean lowering or eliminating taxes on the most wealthy folks didn't create tons of jobs and make up the difference? Wow shocking!!!

Anonymous said...

And all the while Sebelius dines on the aborted unborn with a toothy grin and bits of umbilicus on her bib.

Anonymous said...

Any women who has a period just killed her baby!

Anonymous said...

My God, just how many babies are killed in the convents each year?

Anonymous said...

One year and the yappy leftists declare the policy a failure...yet the US taxpayers continue to fund untold programs and fantasies that never produce, year after year, decade after decade.

Anonymous said...

Moody's ... that's one of those far-left outfits in Berkeley, right? What does their opinion about anything matter?

Anonymous said...

It is true that the bond agencies have zero credibility. That said, the budget shortfall was predicted and expected by many. They of course blame Obama but what about the years before that? Obama was President then. What changed? The tax reduction changed, that's what. Ronald Reagan (you know, the guy who raised taxes 10 times and the debt ceiling 17 times) tried this and it failed. This is nothing but an effort to fulfill campaign promises and appease billionaires who don't need the money.

Anonymous said...

correct-o-mundo 5:15

Anonymous said...

Man 1: "Somewhere John Altevogt is rolling in his grave."

Man 2: "He's not dead."

Man 1: "I know."

Anonymous said...

Kansas does not and cannot issue regular, general obligation bonds because it is prohibited by the State Constitution.
Moody's downgraded the Kansas Highway Revenue bonds, which are repaid from highway tolls and taxes. This is not like Illinois or California, where the bonds issued are general obligation bonds, paid from general tax revenues.
The Kansas Highway Revenue Bonds are still well within the investment grade range. I doubt if this downgrade will have any affect on subsequent bond sales.