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State debt: Arizona’s money pit (access required)

The state has borrowed more than $2 billion during the past four fiscal years, boosting its total debt load to $9.7 billion. At least one-third of the state’s debt must be repaid using money from the same account that lawmakers draw upon to pay for public education, Medicaid programs and other basic government services.

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Arizona said to be on track for financing

Arizona is on track to complete a big financing deal needed so the cash-short state government can pay its bills during February, officials said Jan. 6. The Department of Administration said it plans to complete approximately $735 million of sale-leaseback financing for prisons, legislative buildings and other state properties this month.

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