Money for nothing
The City of Minneapolis is undertaking an experiment with universal basic income (UBI), paying households $500 per month for two years, no strings attached. The program will run from the…
Today Governor Walz announced his proposal to take out another $1.3 billion in bonds backed by state taxpayers. If passed, the $1.3 billion in borrowing would be added to the state’s current debt of $12.4 billion, as detailed by MMB in a recent report to the Legislature (page 7).
John Hinderaker, President of Center of the American Experiment, released the following statement:
“It’s not enough the national debt just hit a record $22 trillion, now Governor Walz wants to run up the state debt by 10% in just one year. It’s irresponsible to put Minnesota taxpayers in the position to have to pay back this debt, plus interest, over the next twenty years.”