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 June 10, 2004
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Sanford says any surplus money should pay off '02 deficits
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(Columbia-AP) May 3, 2004 - Governor Mark Sanford says any extra money the state generates this year should first go to paying off $155 million in state deficits from the 2002 budget year.

Sanford says the state should act like taxpayers who get an unexpected check from an aunt and use that money to pay overdue bills.

The Senate begins debate on the state budget Tuesday. The spending plan they are talking about does not include pumping surplus money into the old deficit.

Senate Finance Committee Chairman Hugh Leatherman of Florence included a projected $110 million surplus in that spending plan, but Comptroller General Richard Eckstrom says there is no guarantee that money will be collected.

Sanford and Eckstrom both say that the state's AAA credit rating could be lost if the old deficit is not given enough attention.

The 2004-2005 fiscal year budget is still being worked on at the committee level in the House and Senate.

updated 1:35pm by Chris Rees

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