Ouch, from Think Progress:
By Travis Waldron on Feb 13, 2012 at 9:25 am
Last week, Wisconsin Gov. Scott Walker (R) announced that he would use the funds his state received from a $26 billion mortgage settlement between 49 states and the nation’s largest banks to help balance the state’s budget, even though the settlement money was marked to help homeowners. In all, Walker will use $25.6 million of the $31.6 million Wisconsin’s state government receives to help close a budget shortfall.
Though Walker’s move to push struggling homeowners aside may seem radical, it is now being followed by at least one other state. Missouri Gov. Jay Nixon (D) and Attorney General Chris Koster (D) have pledged to put $40 million of the state’s $196 million share of the settlement into the state’s general fund to boost its higher education budget….
Wisconsin’s republican Governor Scott Walker bragged in television ads that he had a balanced budget and then grabbed the settlement funds to balance his budget because his policies didn’t actually fix the budget. Missouri’s Democratic Governor Jay Nixon submitted a budget with a 12.5% cut to higher education (ostensibly, to balance the budget) and when the settlement came in decided to relieve some of that cut to higher education with settlement money.
There is a difference.