In short, Walker has increased Wisconsin's Long Term Debt from $12.9 billion on July 1, 2011 (the day before his first budget went into effect) to about $16.5 billion by the end of the 2015 fiscal year (6-30-2015) in his new 2 year budget, barring any payments on the debt. Walker took out $558 million in loans for the 2011/12 budget as listed in this post (he deferred all the payments on the 2011/12 loans & restructured them off to the future), then borrows $2.05 billion more in the 2013/15 budget: http://host.madison.com/news/local/writ ... f887a.html
~$2.05 billion in new borrowing plus an estimated $740 million in interest.The two-year, $70 billion state budget signed in July authorizes an additional $2.05 billion in borrowing...
Official figures from Wisconsin's Legislative Fiscal Bureau (LFB) showing that Walker borrowed $558 million in 2011/12 with $156 million in added interest for a grand total of $714,398,748: http://bdgrdemocracy.files.wordpress.co ... nehout.pdf
2013-14- $98.431 million
2014-15- $98.426 million
2015-16- $83.630 million
2016-17- $83.619 million
2018-19 62.206 million
2019-20 52.255 million
2020-21 41.777 million
... with payments gradually dropping each year until it's down to $472,500 in 2030/31
Walker Admin. tells the Feds Wisconsin has an annual GAAP deficit and $3.02 billion debt for 2012/13, which is up from $2.7 billion when he took office: http://www.wha.org/Data/Sites/1/medicai ... -11-12.pdf
In the Budget in Brief that accompanied the Governor's 2011-13 budget message the administration projected that the GAAP deficit for the state would be $2.99 billion in 2011-12 and $3.02 billion in 2012-13.
Wisconsin's Annual GAAP Deficit was $2.7 billion in October 2010 shortly before Walker took office (Oct. 16, 2010): http://www.jsonline.com/business/105115159.html Paragraph 17
Note that Doyle reduced Wisconsin's debt by $500 million, and that Walker has increased it by $320 million so far.“Doyle inherited a $3.2 billion deficit that now stands at $2.7 billion.”
Forbes: http://www.forbes.com/sites/rickungar/2 ... t-deficit/
"Will Gov. Scott Walker Ever Come Clean On Wisconsin's Budget Deficit?"
In a letter sent by Mike Huebsch, Walker’s Administration Secretary, to the U.S. Department of Health & Human Services just two months ago, Huebsch disclosed that the state of Wisconsin would have an ‘undisclosed deficit’ from January, 2012 through June, 2013.
... it was necessary for the Walker Administration to tell HHS that his state is running a deficit... so he can hold onto the opportunity to place more than 50,000 Wisconsinites in danger of losing their only access to health care.
... There is the “cash method”— the one utilized by the Wisconsin legislature and Gov. Walker... (that) does not take into account the reality (of) upcoming obligations... As a result, cash accounting rarely presents a true picture of an organization’s finances...
GAAP (Generally Accepted Accounting Practices) accounting takes into consideration the money expected to come in and the money committed to going out in order to work out where an organization actually stands.
Walker broke an explicit promise from his 2010 gubernatorial campaign to “require the use of generally accepted accounting principles to balance every state budget.” http://web.archive.org/web/201012300612 ... ent-reform
Wisconsin's Long Term Debt up $1.3 billion since June 30, 2011, the day before Walker's 1st budget went into effect
Wisconsin's long term debt as of June 30, 2011 ~ Table 8 at the top of page 33 under "2011 total":
Wisconsin's long term debt as of December 15, 2012; Page 19, Table 10: http://legis.wisconsin.gov/lfb/publicat ... suance.pdf
Table 10: Outstanding Principal on State Bonding
The LFB says that both the June 30, 2011 and December 15, 2012 Long Term Debt figures are calculated using the same parameters. According to the LFB, the Long Term Debt figures include:
the total of state general obligation debt, state revenue obligation debt, and state appropriation obligation debt.
Annual GAAP deficits from the LFB. Page 33: http://www.doa.state.wi.us/debf/pdf_files/bib1315.pdf
2012/13 ~ $2.056 million
2013/14 ~ $2.359 million
2014/15 ~ $2.645 million
*edit for update on Long Term Debt total in 1st paragraph