Last week, Standard & Poor’s Rating Services placed Kansas on its “credit watch” list. This week, Moody’s dropped Kansas’ credit outlook from “stable” to “negative.” Not surprisingly, Moody’s faulted the state’s tax cuts and excessive use of one-time money to plug its budget shortfalls, including transfers from the highway fund and delayed payments to the state’s pension fund. Also not surprisingly, Gov. Sam Brownback’s spokeswoman blamed something else – this time, the cost of Medicaid and school funding. – Phillip Brownlee
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