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August 10th, 2010

Culver’s misleading release hid $3 billion in debt

State Auditor David Vaudt today released a report showing Iowa’s debt level at 14 times the amount Gov. Culver asserted last week. The report, found HERE, reveals Iowa’s true debt levels, including:

·        Iowa’s debt is $3.2 billion

·        Iowa’s debt is $1,050 per capita

·        A family of four has more than $4,000 in debt

·        The real debt is 14 times larger than Gov. Culver’s misleading release

“Gov. Culver deliberately released a deceptive and misleading report in an attempt to hide Iowa’s true debt,” said Branstad 2010 campaign manager Jeff Boeyink. “Iowans are shackled with a debt load that is in reality 14 times greater than what Gov. Culver asserted it was just last week.

“Chet Culver should look in the mirror and decide if he will continue to mislead Iowans with just 12 weeks left in his campaign, or if he will come clean with Iowans and attempt to honestly deal with the state’s finances and this crushing generational debt. The choice is his.”

The Republican Party of Iowa today called Iowans’ attention to a report by State Auditor David Vaudt, the taxpayers’ watchdog. The report confirms what Republicans asserted last week: Governor Chet Culver isn’t telling the full story about Iowa’s debt.

Iowa GOP Chairman Matt Strawn said, “Iowans are seeing a pattern of deceit from Chet Culver. Last week he touted a report on Iowa’s debt, which Republicans rightly pointed out did not include his $1.7 billion I-JOBS debt. Now Auditor Vaudt confirms the figures Culver celebrated are a drastic misrepresentation of taxpayers’ actual debt. Iowans need a leader that will be honest and straight with them. Iowans need Terry Branstad.”

Photo by Dave Davidson

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The Iowa Republican

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