Accepting large sums of money from the federal government often carries negative consequences. In 2009, North Carolina began borrowing federal money in order to extend unemployment insurance benefits. The amount owed by the Tar Heel State piled higher and higher – until North Carolina Governor Pat McCrory decided to take some proactive, bold steps regarding both debt and taxation. Now, those steps are yielding impressive and encouraging results. This week Governor McCrory announced that his state’s $2.75 billion debt to the national government has been paid off (and, notably, $2.5 billion of that daunting sum was paid off during McCrory’s time as governor).
Vía Forbes Real Time http://ift.tt/1cIAVoq