He said he predicted the last budge would put the RNC $16 million in debt (they are around $20 million in debt).
His objections to the new budget: it only reduces line of credit payment to 1/3, does not include the vendor bills that will come due, and predicts that that this budget will put the RNC in debt by $12 million going into 2012.
Others have stood up to defend the budget, saying this body approved the credit knowing what would happen but that 2010 was a once-in-a-lifetime opportunity. They're calling it a bare-bones floor budget and have a plan to begin paying off the debt.
The 2011 budget was adopted anyway. The meeting has recessed briefly.