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Debt Dilemma (access required)

Debt Dilemma <span class="dmcss_key_icon"><img alt="(access required)" src="/files/2013/12/lock1.png" border=0/></span>

2010 decision to mortgage state’s assets threatens cash reserves

Borrowing billions of dollars allowed Arizona to limp through the worst financial crisis in its history. But the decision to mortgage state assets that include the House and Senate buildings has an unwanted underside: It precludes the state from having significant cash reserves.

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