ANNAPOLIS, MD (October 14, 2009) – Governor Martin O’Malley today issued the following statement regarding the retention of Maryland’s AAA bond rating by all three bond rating agencies:
“Today’s AAA bond rating is – once again – an affirmation of Maryland’s smart fiscal policies in the midst of the worst national recession since the Great Depression. By returning an era of fiscal responsibility to our State, we have demonstrated that sound financial management is possible even in tough economic times. This highest possible bond rating not only demonstrates Maryland’s fiscal strength as one of only seven states to maintain the highly coveted designation, it also saves taxpayers money.
“I want to thank Treasurer Kopp and Comptroller Franchot for their leadership and sound management of our State’s finances. We have worked hard to make our state government more accountable and transparent While Maryland is not immune to the effects for this national recession, together we have made the difficult decisions to protect our State’s long-term financial health, invest in our future, and protect our most valuable asset – the skills and strength of our people.”
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
6 comments:
Maryland's smart fiscal policies?
Man you fools are out of touch with your electorate.
Let's do a rewrite, or as CNN says
a fact check
Maryland's policies are fine if you are sucking on the Federal, State, County, or City nipple.
(of course, if your in the City, it might not be a nipple)
Where was I? Oh yeah, look, when we get some new elected officials, we might get some jobs back in this state, but until that time the taxpayers are like hounddogs, and O'Malley, Mikulski, Kratovil and all the others are like ticks, sucking the very life blood from our rapidly withering bodies.
Who cares what this blowhard has to say.
You know who cares? Anyone who understands what a AAA bond rating is and how important they are to the State, which apparently isn't you.
Thanks 6:03 for talking some sense. But it is wasted on the previous 2 commenters. They will never allow facts to get in the way of their ideaology
Dear 603
Why don't you at least couch your comment in complex banking jargon so we can all be impressed by your knowledge of the world of high finance.
Since I am only an unwashed ignorant redneck down here on the shore I'll take a stab at explaining what a bond rating is and why it's all smoke and mirrors.
Essentially a bond rating is like a credit score. A triple AAA IS the best you can get, true.
Maryland, Minnesota, Missouri, North Carolina, Rhode Island, Tennessee, Utah, South Carolina, aaaannnnndddddd Virginia all received a AAA "credit scores"
15 states were not reviewed for a bond rating this last go around, one analyst said this was because those states didn't need credit as they were flush with cash...
So Mr. 603, here's a clue, if I HAVE money, I'm not so much concerned with what my credit rating is now am I.
In the corporate world, a place I'll wager you don't know much about, those scores rise and fall in relation (ok well, somewhat)with profit and loss statements.
This to me seems a lot like the trailer owner crowing about how he can go into hock for a new sat. dish a big screen.
Which, if I have anything to say about it, is where
the whole lot
will all be
after the next election cycle
Listen, under the hands of O'Malley who is a terrorist lover
(IRA- Google it).
this state has sufffered nothing but job losses.
MR. Franchot has done little to try to change that course.
Bottom Line?
Annapolis and our US House Reps, STOP spending our money, STOP trying to buy our votes, and bring back some jobs and industry to this state!
The ability to raise taxes plays a pivital role in obtaining a high bond rating. Is there any doubt that this state is very good at raising taxes?
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