Borrowing From Peter to pay Paul – O’Malley caught up in 2 billion worth of Bond Transfers

By Red Maryland:


Nice catch by the Ehrlich campaign.!

Sorry Governor O’Malley but this is just another example of your truthiness problem this summer. Marta Mossburg noted how you’ve actually been using the AAA bond rating:

…to borrow hundreds of millions to pay for capital projects that should have been paid for in cash. This means that today’s streets are paved with tomorrow’s taxes. It also means revenue collected to upgrade wastewater plants, for example, is used for other purposes in the general fund, with bonds issued to replace the cash.


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