Quoting the old Navy saying “Loose Lips Sink Ships,” the governor told reporters that State Treasurer Dan Rutherford isn’t helping anything by publicizing the state’s debt load which, when including unfunded pension liabilities, exceeds $192 billion. Rutherford scoffed, saying he’s not the only one talking about it.
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“Regardless of this state treasurer making it known to Kiwanis Clubs and Rotaries about how bad it is, the investment folks from Fitch, Moody’s and Standard are still going to figure this stuff out,” he says. “This is not a secret.” The governor was responding to earlier Rutherford comments that the state is bankrupt, comments from which he backed away by clarifying that federal law does not allow states to declare bankruptcy.