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MA Borrows at Highest Level in Six Years

Massachusetts budget officials are warning the legislature against any new spending. As it is, the state will have to borrow $600 million this month to meet its end-of-the-year aid payments to cities and towns.

The state borrowed $300 million last month, bringing total borrowing for the year to the largest amount in six years.

Administration and Finance Secretary Thomas Trimarco says although end of the year borrowing is common, the state needs to be careful to make sure the budget eventually balances.

Some state lawmakers say the borrowing is only to cover a cash flow problem.

This program aired on December 5, 2006. The audio for this program is not available.

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