Monday February 23, 2009
Bob Genuario, the secretary of the Office of Policy and Management, who is Gov. Jodi Rell’s chief budget architect, is sparing with the Finance, Revenue & Bonding Committee.
Around noon, he warned that the state’s annual debt service – the price of floating bonds for capital improvements, including schools and highways – is up to about 10.2 percent of the current $18-billion budget and has essentially doubled since 1997. In 1997, debt service was about a billion bucks and will be $2.26 billion a year by 2012, Genuario said.
