Arizona conducted a two-day sale of several of its state buildings last week in an attempt to dig itself out of debt.  The idea behind the sale is that the state is going to sell many of its buildings and then lease them back, with interest, for more than 30 years.  Arizona is expected to earn more than $300 million in the sales of these buildings, but that's before interest payments have been included in the equation.  The state's total debt load is $10 billion, which is more than five times what it was just a decade ago.  Paying off the heavy debt that Arizona has incurred will leave a tremendous burden on state budgets for many years.

This latest borrowing tactic to try to cover up the giant hole of debt has been questioned by many who think that the massive amount of interest that Arizona will have to pay back will add up to millions of dollars that could have been spent on programs dedicated to reducing taxes.  

If you or someone you know needs help with debt negotiations, contact the Arizona debt negotation lawyers of the Harmon Law Office, L.L.C. by calling 480-829-0494.