South Carolina Governor Forced to Borrow Beyond State’s Means

South Carolina keeps borrowing and spending money. But unlike other states who are lining up for federal funds, South Carolina is taking the money reluctantly:

After a long battle with state legislators, the South Carolina Supreme Court ruled Governor Mark Sanford must apply for $700 million in “stimulus” funds for the South Carolina school system. The most outrageous part of the story is that some schools say they do not need additional money and will put it in a reserve fund.

Sanford got the last word by saying "It’s important to state one last time for the record what a monumentally terrible idea I believe the entire so-called stimulus act is, and why in particular using this money as our General Assembly has done is ultimately going to cause more harm than good."

Governor Sanford should be commended for his efforts and we hope he continues to expose wasteful government spending.

In other terrible South Carolina spending news, $9.2 million has been loaned to Patriots Point to repair the USS Laffey. State Treasurer Coverse Chellis unilaterally decided last week that South Carolina taxpayers were going to lend the money to repair a decommissioned Korean War destroyer. This is just the tip of the iceberg though. The Laffey needs a total of $50 million in repairs.

Chellis said the $9.2 million was budgeted for other state capital improvement projects but will not be needed until 2010, and Patriots Point is to have repaid the loan by then.

Perversely, Patriots Point plans on asking for $20 million from next year’s federal budget, which they would use to repay the state loan. U.S. Rep. Jim Clyburn, D-S.C., has already submitted the request to Congress on their behalf. All the while, you and I are picking up the tab.

With dwindling visitors and revenue over the past several years, giving $20 million to Patriots Point is far from a sound investment. This is just another example of government expecting a constant influx for whatever it deems worthy. Worst of all, when it is all said and done, Patriots Point won't even have enough money to repair the decommissioned ship.