State treasurer: Ariz. could max out credit lines next month

Posted: Updated:

State Treasurer Dean Martin says Arizona's budget situation is dire, and that the state could max out its credit lines next month.

Martin says the governor's plan to release nonviolent illegal immigrants from jail and turn them over to ICE for deportation will make a dent the massive deficit, saving the state millions of dollars. While it will help the situation, he says it's not enough.

"It's nowhere near the size of the deficit we're facing," he said.

Martin emphasized that the budget crisis is not a partisan problem. It all comes down to basic math.

"You have more money going out the door than coming in," he said. "This November was the most expensive November in state history. October was the second most expensive October in state history. You can't spend so much more than you make without going into bankruptcy."