VT Edition Interview: Jeb Spaulding on VSAC’s moral obligation debt

Vermont Treasurer Jeb Spaulding explains why he supports VSAC’s request for $50 million in moral obligation debt. Critics say it’s the state’s version of a bailout promise, but backers say the money will serve to reassure investors and is unlikely to be drawn down. Spaulding explains the mechanics behind the finance tool intended for critical state entities.