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A Maryland panel wants to raise the state's debt limit in the next fiscal year, but the move is facing opposition from at least one financial official in the state. The Capitol Debt Affordability Committee voted Monday to recommend Maryland increase its debt limit another $150 million beyond the current limit, which is $925 million, according to the Associated Press.
Governor Martin O'Malley's administration believes the increase is affordable as revenues have grown faster than projected. State budget secretary T. Eloise Foster argues the borrowed money will help Maryland invest in infrastructure and boost jobs while interest rates are low.
But state comptroller Peter Franchot voted against the change. He believes there are too many questions about the economy and instead of increasing debt, the state should increase financial restraint, according to AP.
Book News: Newly Found Pearl Buck Novel To Be Published This Fall
Also: shameless book blurbs; new plays from Ayad Ahktar; and a first edition of Harry Potter and the Philosopher's Stone draws a record price at auction.Nutrition Group Says Chocolate Milk Is OK, No Need For Aspartame
The nation's largest group of nutritionists is urging the FDA to reject the dairy industry's petition to change the definition of milk. The petition aims to allow aspartame or other alternatives to be used to sweeten milk in an effort to boost consumption in schools.Anthony Weiner Jumps Into Race To Be NYC Mayor
The former congressman's career appeared to be over when he resigned in 2011 because of an extramarital sexting scandal and his lies about it. Now, he tells voters, "I've made some big mistakes. ... I hope I get a second chance to work for you." The Democratic primary is set for Sept. 10.Microsoft Unveils Its new Xbox One
Microsoft has designs on your living room. The software giant's new game console — Xbox One — uses speech-recognition technology and physical commands. Not just to control games, but also your TV, Skype and recorded video. Microsoft demonstrated the new device Tuesday.Leave a Comment
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