Governor Chet Culver’s office issued a news release this morning, bragging about a Moody’s analysis which concluded the level of state debt in Iowa ranks so low, only Nebraska has a lower figure. The news release included this statement from Culver:
“Even after bonding for desperately needed infrastructure investments through I-JOBS, we maintain one of the lowest debts among states.”
That’s deception, according to the campaign of Terry Branstad, the Republican who is challenging Culver’s bid for a second term. Jeff Boeyink, Branstad’s campaign manager, says the Moody’s report does not include the I-JOBS borrowing and I’ve now confirmed that with two other sources. From the Radio Iowa story:
“It’s just a pattern with his administration of not being honest with Iowans about the true financial situation in the state,” Boeyink says.
About O.Kay Henderson
Kay is a founding member of the Radio Iowa network newsroom. In 1994, she became the network’s news director. She’s a featured reporter and commentator on Iowa Public Television’s “Iowa Press,” and the 2002 recipient of the Shelley Award.
Branstad is the one misleading Iowans. Look at the Moody’s charts:
http://blogs.desmoinesregister.com/dmr/wp-content/uploads/2010/08/Moodys-debt-ending-June-302009.pdf
Even if you add in all the I-JOBS borrowing, Iowa is still in the bottom five states for state debt per capita. Most neighboring states have several times the amount of Iowa’s debt, in absolute terms and per capita. I-JOBS didn’t change the overall picture, which is that Iowa has a very small and very manageable debt load.
Meanwhile, Branstad’s campaign makes an “oops” every single day about the I-JOBS repayment costs. It’s nowhere near $1.7 billion. This is not a matter of opinion–it’s a point of fact.