States Diverting Money From Climate Initiative

State governments in debt are finding large pools of money to help pay for their spending by using funds intended for environmental initiative action.

In New York, government officials found $90 million to pay for schools by dipping into money generated by a multistate greenhouse gas initiative.

In New Hampshire, the state took $3.1 million from a similar environmental fund. And in New Jersey, the government diverted its whole share: $65 million.

At least three financially troubled states have discovered in the Regional Greenhouse Gas Initiative, a cap-and-trade system, a convenient pool of money that can be drawn on to help balance state budgets.

Full article at-- http://www.nytimes.com/2010/11/29/nyregion/29greenhouse.html?partner=rss&emc=rss