MIKE WALDEN: To borrow or pay as you go? The costs and benefits
Saturday, March 16, 2019 -- On the surface, "pay as you spend" sounds more frugal and inexpensive. After all, there are no interest charges, and the state presumably would only spend what it could afford. Still, there's a downside to "pay as you spend,." Borrowing allows governments to get more now, but at a higher long-run cost. Key questions to address are: How fast do we need to build school buildings?. What are the relative benefits and costs of taking longer or shorter periods of time to upgrade our state's educational infrastructure?