Pennsylvania's state treasurer says he's loaning money to the state government's main bank account after the balance hit a 10-year low and dropped below zero.
Treasurer Rob McCord said Tuesday the $700 million transfer borrows from other state funds at a low interest rate.
Gov. Tom Corbett's aides say the maneuver is a routine way to cover a short-term cash shortage and that Democrats are trying to use it as a political weapon against the Republican governor as he runs for re-election.
McCord and Auditor General Eugene DePasquale, both Democrats, insist it is an alarming sign of the state's deteriorating financial situation.
Pennsylvania received its third bond downgrade in two years in July, after Corbett signed a $29 billion budget that is balanced with $2.5 billion in stopgaps.
