The ugly truth about Kentucky's budget "surplus."
Kentucky Knows Best PAC

Frankfort's $916 million "oops"

Dear friend,

Kentucky state government quietly reported to bankers on Thursday that, despite record General Fund revenues in FY 2012, the $46 million budget surplus they crowed about to newspapers in July was actually swallowed up by an $870.6 million overspending of available revenues.

The new report, which will supposedly be released to the public next week, also shows an increase in bonded indebtedness of $267.6 million. The report lists retirement fund current assets and liabilities, but not the enormous future obligations or current underfunding.

Please distribute this email as widely as you can. Ignorance of facts like these prevents Kentuckians from properly judging politicians' claims of fiscal responsibility. If you appreciate the value of receiving this kind of news when it is unavailable elsewhere, please consider contributing financially by clicking here and donating what you can. Even a very small amount will go a long way.

Thank you and here's hoping you have a very Happy New Year!

David Adams
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