While most political talk in Frankfort focuses on certain personalities clashing with their partners-in-debt, the real story is not which leader wins the most road earmarks during this special session, but how the debt has been ignored and continues to grow. The recently passed budget adds roughly $500 million in additional debt.
Why does it matter?
When I started my campaign in January, I warned that our state debt was a ticking time-bomb set to detonate. The leadership in Frankfort refuses to address the problem, in fact, many appear to be the problem. For example: KRS–Kentucky Retirement Systems–has been cited as the reason our credit-rating has taken hits in the past. If we do nothing (ignore the shortfalls), KRS will cost an additional $600 million a year, starting in 3 years. Did the leadership address the problem this session? No!
The fact is: We must elect leaders who simply understand we cannot continue to spend more than we take in. We must elect leaders who are not afraid to meet the big problems head-on.