The Young Democrats of Rhode Island are slapping the older Democrats in their party who run the Statehouse. In a statement, the Young Democrats take issue with the proposed state budget for the fiscal year that begins July 1 that won House Finance Committee approval.
While the group ``commended’’ the Assembly for adding money for the state’s school funding formula and restoring funding for developmentally disabled citizens, the Young Democrats skewered other budget priorities.
Moody’s Investors Service has downgraded the state’s bonds for its failed deal with 38 Studios. Moody’s has put those and other state bonds under review for possible additional downgrades.
In explaining the move, Moody’s points to uncertainty in the General Assembly about whether to allocate money for paying back the 38 Studios’ bonds. The investors’ service downgraded the 38 Studios bonds from a low credit risk to a moderate risk.
House Minority Leader Brian Newberry (R-North Smithfield) joins the Roundtable this week to discuss his expectations on the budget; whether the state should pay back moral obligation bonds related to 38 Studios; what the General Assembly will accomplish this year to boost the economy; and more.