Posted on Sun, Jan. 07, 2007

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Now where can I find $160 million?

When Gov. Mark Sanford took office in 2003, one of his first criticisms of the Legislature was for raiding state reserve accounts to balance the budget.

Lawmakers borrowed hundreds of millions of dollars in the early part of the decade before repaying debts completely last year.

So facing a $9 billion health care bill for which the state must begin accounting, where did Sanford go looking for money to start a nest egg?

Some of those same reserve accounts.

Sanford borrowed $137 million from the State Health Plan and $23 million from the Unemployment Compensation Fund, he said, because its savings have grown larger than needed the past few years.