What happens if Arizona runs out of money?
That and other questions were posed to state Treasurer Dean Martin (pictured) by Kristin Borns and Joseph Garcia of Morrison Institute for Public Policy as part of the State of Our State yearlong project.
“Actually, the state has run out of money,” said Martin, who noted that Arizona went into the red for the first time since the Great Depression last fiscal year – April 2009, to be precise.
What’s being done to deal with Arizona’s fiscal crisis? What else can be done? What can we expect as Arizona weathers its worst financial storm in history?
Hear for yourself with these Audio Answers.
* What does the state Treasurer’s Office do? (01:59)
* What does it do differently during a crisis? (01:44)
* What if the state runs out of cash? (03:57)
* Can’t the state defer payments? (03:04)
* What the $1.2 billion loan capability mean? (07:13)
* Can Arizona declare bankruptcy? (03:54)
* What effect would a new sales tax have? (09:22)
* What’s better: sales tax or property tax? (07:37)
* Are there any immediate solutions to crisis? (04:03)
* Is growth still our No. 1 economic driver? (03:25)
* Any advice to the Legislature or governor? (01:44)
* Why should the treasurer be elected? (04:21)
* How have cuts affected the Treasurer’s Office? (03:02)
Andrew Long ASU Morrison Institute for Public Policy
