These states may end up borrowing reserve funds from the federal government and hurting their credit ratings for future debts.
This is the structural commitment to future debt inherent in democracy.
It yields immediate cash relief but piles up even more future debt.
But it will prohibit borrowing for day-to-day expenses, and make most future debt a direct obligation of the state.
Taken together, this present and future debt may exceed $70 trillion.
The budget also puts $2.8 billion toward future debt and expenses and a retirement trust fund for city workers.
There are some real challenges regarding potential future bad debts but the government has the financial resources to address these.
Sometimes lenders balk at multiple credit cards, which expose the potential for future debt.
He also persuaded the Legislature to enact a law limiting the state's future debt, though it had little immediate effect.
If students disregard this future debt, some researchers will condemn them as being irresponsible.