How GOP Virginia embraced borrowing as a survival strategy

Yglesias | ThinkProgress: "That’s right, Virginia “balanced” its budget and set up this year’s surplus by borrowing money from itself. Coming on top of $17.6 billion worth of unfunded pension liabilities, that would have been a rather audacious move for any governor to approve. But that’s especially so for McDonnell, who is among the leading vice presidential candidates for a party that presently is waging a total war against increasing the federal government’s borrowing authority."

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