[Oeva-list] Warning...road financing woes ahead...
lawrence_winiarski at yahoo.com
Wed Jun 13 17:57:29 PDT 2012
Here is another example that should serve as another warning to people who want to run out and change things
without seriously considering the consequences and the dangers of letting idiots in government run off half cocked.
Mitch Daniels (governor of Indiana) had the bright idea that "private enterprise" could save the road system, so he
decided to sell a 157 mile section of I-90 to the highest bidder (actually only a 75 year lease) which was a foreign
This actually happened in 2006.
So it temporarily brought in 3.6 billion dollars, but now the private corporation is jacking up tolls like crazy and now it
costs $9 dollars to use the interstate, (it has DOUBLED in recent years) and that money goes to a foreign corporation.
and it's gonna keep on rising for the next 70 years, every year by the maximum of 3 different methods of calculation.
Apparently the citizens of Indiana are going to learn the lesson, that their elected representatives don't understand
compound interest, the hard way.
Can you imagine paying $9 every time you want to get on I-5?
The citizens of Indiana are royally screwed and the pain that Mitch Daniels caused will live on longer after he is dead and buried.
All for some stupid philophical agenda.....once again without thought of the the consequences.
And if you read the article you will find the examples of how one sided the contract was ad that along with loosing revenue, the
state has to reimburse the private corporation for "losses"
I'm sure the people who originally built this road are rolling over in their graves about how foolish it was to sell off national assets.
Eisenhower is surely rolling over...
I want to re-iterate that the ODOT guys are explicitly wanting to let private companies actually do the the tax collection for the EV
toll-taxes....do you think these contracts are going to be designed to protect "you"? If you believe that, I have a bridge
in Eddyville to sell you :-)
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