AUGUSTA, Maine — Lawmakers learned Tuesday that the state has the economic capacity to borrow roughly $24 million in general obligation bonds beginning with the 2014 fiscal year.
That number doesn’t include what the state could borrow within the Highway Fund to help pay for repairs to aging roads and bridges, and state finance officials did not put a firm number on that.
Still, the political capacity to borrow is an entirely different number and one that is compounded by Gov. Paul LePage’s strong feelings against bonding at this particular time.
Bonds require a two-thirds vote of the House and Senate and then must be approved by Maine voters through a referendum.
LePage has made his feelings on bonds clear in recent days.
“Before I can accept any bond proposal we must address the shortfall in the 2013 budget,” he said in a statement on Tuesday. “Our welfare programs have become unaffordable and structural changes must be considered to reduce out of control spending. To achieve savings we must be willing to better align Maine with federal eligibility requirements.
“I would very much like to do infrastructure work on our roads and bridges with capital improvement money, but we can’t pay our current bills. It’s true that temporary jobs can be created through the use of bonds, but careers can also be saved by paying our hospital bills.”
Representatives of a number of industries across Maine who testified Tuesday before the Appropriations Committee had a much different view of bonds.
John O’Dea of the Associated General Contractors of Maine said the state has an opportunity to make some badly needed infrastructure investments at a time when bid prices are very low.
“Our roads, bridges, water systems and higher education facilities have suffered from years of neglect. An investment by the state at this time will help fix these deteriorating assets and put people back to work,” he said.
The biggest bond proposal is likely to target highway, bridge, airport and port improvements. Others have made the case for bonds to support higher education, sewer and water infrastructure projects and research and development. Representatives for the Land for Maine’s Future program also have said a bond is needed in order for that program to survive.
So how does a state decide how much is needed? Grant Pennoyer, director of the state’s Office of Fiscal Program and Review, said Tuesday that the general rule of thumb is that states should borrow no more than 5 percent of general fund revenues. That number is not set in stone, though.
Some, like O’Dea, have argued that now is a good time to borrow because rates are very low. Many believe it’s important to borrow from time to time to retain a good credit rating.
“It’s clear we can afford to invest in a jobs bond,” said Rep. Peggy Rotundo, D-Lewiston, the lead House Democrat on the Appropriations committee. “If we don’t make these public investments now, we will be missing an opportunity to create jobs. Public investment will create jobs now and grow good-paying jobs for our future.”
Others, including the governor, believe the state’s fiscal house is not in order and adding debt compounds that problem.
The Legislature’s Appropriations Committee will continue to meet this week and into next week on the dozen or so bond proposals before them. Any decisions on bonds would be made when the full Legislature reconvenes in mid-May.
Follow BDN writer Eric Russell on Twitter @BDNPolitics
I vote against bonds.
Therefor you have no need for schools or roads….I doubt that. You vote against bonds for the commons because you are selfish and do not care about leaving suitable infrastructure to the next generation. “Me first”, right?
During the years of the filed Baldacci administration Maine raided the highway fund so that the Dems could pay off their hacks at social services. We collect more than enough money for roads and schools. It doesn’t get spent wisely.
LePage is the best thing that could happen to the Democrats! Thanks Paul.
McCormick and Violette are two the best things that have happened for the Republicans. Thanks Paul!
LePage’s problems with job bonds is that they might help a group of people that he’s done nothing but spew hate and disgust upon since coming into office, that would be US the average Maine citizen. Worse yet would be to provide any help to those of us who have been made unemployed by the insane government spending at the Federal level for the past 11 years. Sometime someone is going to have to put people to work or we will no longer even be a country. Clearly the private sector is more interested in investing jobs overseas. Perhaps the government needs to lead where they have failed/chosen not to compete.
All of that bonding under the failed policies of the past 35 years have really done a lot for the average Mainer.
Data please.
Those proposing adding more debt are obliged to show that past spending has shown a return. Data please.
Well you put people to work they pay taxes, you let them waste away jobless you get more family’s on welfare. stimulas like income tax returns are stupid most people conserved and paid bills rather then blow it.Then all you have is chinese products to choose from most the time so no money going back into the country there, but if that stimulas comes in the form of jobs then you got something.This worked before it can work again, They should be running big adds on us savings bonds also.At the least it will keep us alive a bit longer.Although I’m scared of the fed getting their hands on more American’s money last decade shows they are not responsible with it.
Does seem to be counter to his job creation mission.
Watch how many hard working electricians will be out of jobs soon. The new rule lets 2 helpers work for every license instead of one. When they can find helpers for half the money. Why should anyone want to go to school to be licensed? Anyone who says thier is a shortage of electricians just dose not know what they are talking about. These morons that say they can not find an electrician do not use the yellow pages. I get more people calling looking for jobs than I get people calling looking to have work done. This will not make more jobs it will only make lower paying ones. It will not bring down the price of work to be done just wages.
While I agree that there has been insane spending at the Federal level for the past 11 years, or longer minus a few years under Clinton. Businesses are not charitable organizations, they need to operate using sustainable business practices, since they can’t simply raise taxes, or print money, if they don’t they will fail. Our government believes that the problem is that they are not doing enough, and maybe in some aspects that is true, however, in many areas they need to get out of the way. The government cannot control people desires and behaviors no matter how much people wish it to be true.
Also, your statements about LePage are simply untrue. I get it, you don’t like republicans, but making such statements does nothing for your credibility. It is like me saying that Obama hates America and rich people.
Don’t tell the liberals that they will borrow all the 24 million.
I have consistently voted no on all bond issues for at least twenty years. I haven’t been on the winning side once.
You and me are alike in that way. Maine is addicted to spending and what has it done for us?
Maine is “addicted” to a childish refusal to pay for what we need let alone want.
“Needs” like rail trails and fountains in the capital parking lot. “Needs” like quarter million dollar 1,000 sq foot affordable housing. Maine’s problem has been a lack of priorities in spending. Too many constituencies feeding at the government trough.
I used to work in Economic Development, and can tell you who is “feeding at the government trough” — it isn’t poor people, but business!
Rail trails are a perfectly reasonable priority, and I am willing to pay taxes for it. I didn’t like the debaucle with the public housing.
Your problem is, that Maine’s spending priorities aren’t your own. You have as much to say as I. No more or less.
Well you drive on paved roads and have a job I presume. Without investment you are nothing, I am nothing, we all just forage for sustenance.
It is very telling of character that some do not support ANY investment in the common good. It defines selfishness and avarice.
Pay down the debts we’ve already incurred. Then I’ll consider additional investment.
We have been paying down the debts. Still there is a future to think about and there will need to be roads. Maine is among the most responsible states in the nation for bonding…..We are small and have small cash flow but we bond short term and have a strong rating in spite of our size.
It has been done responsibility which is why it is short sighted and regressive not to continue investing in our future.
Stimulus is the way out of the hole. It creates jobs that jumpstart the economy. The Great Depression ended because of government stimulus–massive infusions into factories.
http://krugman.blogs.nytimes.com/2011/08/15/oh-what-a-lovely-war/
What factories? There is a big difference between now and back then. Back then people would buy local. Or at least not from another country. Now many people with jobs won’t even try to purchase things local. New Balance, made in Skowhegan, are less expensive than many shoes made abroad. They should be a fashion statement about supporting your neighbor.
The stimulus only works if people buy American. It is costing everyone to buy foreign and therefore we should consider eliminating free trade agreements. We should also remove China from most favored nation status, prior to any further stimulus plans.
The stimulus works if we start to repair and upgrade our failing power-transmission infrastructure.
The stimulus works if we build superfast monorail public transportation, like say in Europe or China (but Republican governors, like Christie, have refused the money offered to them)
The stimulus works if we hire people for conservation, or medical aid, for example increasing the budget of Americorps.
The stimulus works if, instead of destroying our schools, we build great schools.
The stimulus works if everyone has health insurance (and has to buy health insurance) and so they are not afraid to start small businesses like they do in other countries.
The stimulus works if we wean ourselves off our addiction to oil by going solar, wind, hydrocell, and so on–
And so on, and so on, and so.
“IF”
Way too many, for way too much money.
If the generations before you had your Ayn Rand like attitude about investing in the shared future of this nation and its people, we would be a third world country and the entirety of our prosperity would not have happened.
My friend stimulus has not worked it has only prolonged the inevitable. Investments like high speed trains only work if someone rides them and take a look if any of them are profitable. Amtrak is a huge hole that tax dollars are poured into each year, and as far as Gov. Christie is concerned I applaud his decision. Do you realize why it turned out that way? The unions refused outrightly to cap any potential cost overruns and this project could have easily bankrupted New Jersey. I am wondering what other countries have government mandated health insurance that actully work, perhaps Sweden with the same population as say Houston. Don’t tell me Canada just ask any Canadian about it and you will see. The only answer is to stop spending on things that we can’t pay for, to buy American made products and start being responsible for ourselves. Remember the words of a truly great president “don’t ask what your country can do for you ask what you can do for your country” ( JFK).
How could unions cap cost overruns?
Not pay their employees if it takes longer than planned to do something? How is a union responsible for cost overruns caused by design flaws or material cost increases?
Me thinks you blame unions for everything wrong under the sun.
Do you have any experience what-so ever with large projects and Unions? I do. And it is a nightmare. The projects I specialized in were as close to “cookie cutter” as you could get. 300-400 people ,13 weeks and a few million dollars and it was off to the next one. The faces , weather ,time zone and accents might differ but the projects themselves were pretty much the same. Unless I went to a “Union Town”,in these Towns/Cities breaks were often and long,approved suppliers list were short,trucking company list even shorter.40% was added to labor cost when the job was in a Union Town,10% to both shipping and local supplies,right from the start. Project over runs happened 100% of the time.
One project in North Philly took twice as long, cost a little over 3 times the cost and never did get completed. By the end, a 30 million dollar a year physical plant was shuttered, the bushiness moved approx. 2.5 miles and reopened. The owners stopped the project, built an entirely new operation and was open for business in less time and for less money than they paid for the non completed remodel/refit of the existing plant.
Would you like to guess the difference between the two locations,besides 2.5 miles?
“Project over runs?” That’s poor planning, not the basic human right to bargain collectively.
You are free to negotiate terms, but you are not entitled to the terms you would get if unions were not at the table at all.
Those “union towns” decided that you are not “entitled” to the wages/working conditions you might have leveraged with straight up market power — that workers who are doing the producing have a right to the decent, safe conditions and livable wages that the market doesn’t want. THAT’S what “democracy” looks like!
A fools response is what I just read.
The “cost over runs” were caused by Union corruption,waste and laziness. There was/is no negotiation, it was there way or nothing. We figured in a large percent over the standard knowing full well they would find a way, and they managed to go even further. expense They would make agreements ,plans would be made and once the project was started is when the games would begin. Thugs holding the project hostage.
It’s funny how Unions are all but dead in this country,except where no choice between Unions or not is the case. “workers who are doing the producing have a right to the decent, safe conditions and livable wages” that would be great if they actually cared about producing.They cant survive in the real world,and for good reason. When the consumer and the market decide, Unions die,again, for good reason. Simple as that.
Look up the definition of Thugs, see how it compares to what Unions have become, then maybe you will see why the term is used about them.Again,for good reason.
“The only effective counter measure to organized greed is organized labor.” Democratic processes are the only effective counter measure to corruption among capital or labor.
You “figured in a large percent over the standard”? Again, poor planning.
Unions are “all but dead in this country”, yet they somehow had the power to “hold your project hostage” and say, “my way or the highway”. There were other powers at work there.
Capital, in recent years has been all about “my way or the highway” and it’s own thuggishness and purchase of our government power is the reason the right to bargain collectively; a basic human right under the U.N. Declaration signed in 1948, is “all but dead”.
If you want to know if working people “actually care about producing”, then check the labor productivity numbers (no, it isn’t called “capital productivity” for a reason — as Lincoln said, “all wealth derives from labor”.) Those numbers have skyrocketed. But guess who gets ALL the benefits of that? Shareholders — not workers.
You salivate over the idea that YOU should dictate terms to workers; tell THEM “my way or the highway”. This is still (barely) a democratic country, and you are not entitled to your plutocratic fantasy.
Spoken like a good Socialist.
Unions artificially raise wages of few , increase unemployment while raising the cost of goods and services for everyone.
In most all circumstances in which consumers have a choice, Unions have failed.
It might explain why Unions have entrenched themselves into the Public sector where the “consumer” has no choice what so ever. It might also explain why Unions task folks with responding to internet forums, using a template looking almost exactly as your post.
…spoken like someone who has no idea what a “socialist” is — just a word to throw around, and people dive under their desks. Helen Keller was one…
The wages set by negotiations between organized capital and organized labor are very real, indeed — not “artificial” at all. Of course, there are those who prefer what organized capital COULD garner, if labor did not enjoy the same right to collectively bargain, but they are not entitled to it. “It is not enough to work or educate yourself into the middle class — you must also negotiate your way in.” Authoritarian, fascist types do not like to negotiate, but in a democratic republic it is only fitting.
The public sector cannot undermine the basic human right to unionize as easily as the private sector. Workers are also voters; citizens who wield civic power.
Freedom is participation in power, (Cicero) and we have, for too long, abdicated our civic power to that of the “market”. We’ve governed as “consumers”, not citizens.
Typical “you don’t know what socialist means” , you guy’s need new material. The day’s when arrogant ,dismissive comments earning admiration from like minded, self important folks who have decided themselves the intellectual superiors to any who challenge their assertions and world beliefs will be enough to win an argument.,those day’s are gone.The intellectual exercise that is Socialism can only survive in lecture halls and coffee houses.Economic systems that are most often described as being “Socialist”, from the daddy of it all,Alexandre Vinet, who called it the the opposite of individualism” or thoughts on what today’s “Progressives” have mashed together from differing schools of socialistic ideas and re-branded in hopes of avoiding the label,all all have failed when ever they have been attempted.
If you need a lesson in these,more than talking points, let me know.
“Socialism is workable only in heaven where it isn’t needed, and in hell where they’ve got it” Cecil Palmer
Wow — you really haven’t the foggiest idea what you are talking about. …defining “socialism” as any deviation from the depths of Ayn Rand’s soul — it you could call it that.
Progressives, and progressive libertarians treasure individual liberty, and recognize the threat not only from government, but government-chartered big business. Oddly, the original Boston Tea Party did too, unlike the fascist tools of today. Like quotes? O.K. Advocates of capitalism are very apt to appeal to the sacred principles of liberty, which are embodied in one maxim: The fortunate must not be restrained in the exercise of tyranny over the unfortunate.
Bertrand Russell…and it’s all about the “rights” of the strong over the weak — the tea party chooses to ignore the “responsibilities” citizens of a democratic republic have to each other.
Progressives, and progressive libertarians are two completely different creatures. Your refusal to acknowledge the true nature of the “progressive movement” is another example of why your post hold no weight.
The re naming of Socialism to” Progressivism” is clearly and easily seen and documented in history. It has been talked about openly and still is today by those who wear the label proudly..
“progressive libertarians” may have some very valid points, but they are a very different creature than today’s incantation of a “Progressive”
Noam Chomsky has said libertarianism, “It might sound nice on the surface, but if you think it through, it’s just a call for corporate tyranny.”
…or corporate feudalism, under which there is NO “individual liberty” for the masses of people; no middle class…
Progressives, socialists, social democrats, libertarian socialists — what have you. …form their beliefs within the framework of the American Constitution, and are as legitimate as those of Rand — more so, as she rejects our social responsibilites…. I reject this McCarthy-esque hurling of the term, “Socialist”. ..a clear miss-application of the word.
I’ll do a typical RW ploy…..
Give me sources to back up your claim.
Thats funny, the real world needs to be proven to you, why does that not surprise me.
So…. no sources to back up your opinion. Typical RW talking points with no facts to back it up.
As for the real world needing to be proven to me I have lived in the real world for almost a half-century (dang I’m old) and have learned to make up my mind based on facts, not things like I know a person who….
Rail is a poor example, as, by it’s very nature, rail is a public endeavor. Rail has NEVER worked as a “free-market” “consumer product” supported by fares alone. It has always been part of our commons, to an extent.
We would all do well to remember the words of JFK, and invest in ourselves; our public wealth; that has been so decimated by “privatization” and greed.
Oh but your friend stimulus DID work and quite well at that. If you want to see what we would have looked like without it, look no further than Greece. They have no way to stimulate their economy out of ruin and they are literally disintegrating. Half of the young workers have no jobs, police have been cut so far they do not respond to most crimes. Do you understand that we were pacing for a 9% drop in GDP? It was improved to +1% through the stimulus. You sir are a fool to make such a ridiculous statement and have none of the relevant facts.
Your way, the austerity way, has failed Europe and failed us. Asia will continue to progress and leave us in the dust. It didn’t have to be this way. Europe is waking up and they will condemn the short sighted avarice of Germany’s master plan for their future of austerity.
You and those who think like you are the sad product of the richest people in the world building misinformation campaigns to train you to act and vote against your own interests while they STEAL from us. They have figured out how to use the media to make you kill you own future and blame the people who are actually trying to make sure you have one. You do understand that the banks that took absurd risks with Americas economy were secretly bailed out with $16 TRILLION DOLLARS. http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts
You probably blame Obama for the deficit, even though aside from the short term stimulus, his policies have not contributed to deficit we have, it is the policies of his predecessors. We are still paying for the wars of choice, big pharma giveaways and the incredibly expensive free lunch we serve the wealthiest people and corporations.
If you are a working person, you are already doing too much for your country. The rich are getting the free ride. They may pay the majority of the taxes, but that amount is miniscule compared to the wealth they have enjoyed at your expense. Still they have convinced you that the problems we have with our economy are due to the black guy the other people elected and not the 30 year stagnation in wages.
You deserve the crumbling world these policies bring because you have not educated yourself and apparently don’t know better. My children and yours deserve something better than that. That is why I will fight against you and those who have been taught to think as you do until my dying day.
The media is obscuring the theft of our countries wealth from the common people to the richest and greediest the world has ever seen.
Greece! Wow what a comparison home of socialism, thirty hour work week, entrenched unions that don’t really make anything noteworthy. Wages , pensions, and entitlements in the bloated public sector are what has sunk Greece along with Spain,Portugal, and Italy to follow. You sir need to come down from the Ivory tower once and a while and have a look around. Most states are in far worse shape than Maine with unemployment far higher than the liberal press reports. How many have just given up looking for a job or work in a unskilled position for a less than living wage. I am wondering who you refer to that are so adept at using the media and what media? Could that be the champion of the underprivlaged Congresswoman Pingree who’s husband just bought mutible newspapers in Maine or say Time inc. the largest publisher in the USA with a stake in a lot of other media, I wonder who sits on that board.
As far as your statement of Asia progressing and leaving us in the dust, I think that you should go over to China and see how they react to someone not agreeing with the powers to be. They have the highest rate of capitol punishment in the world by far, pollution is rampant and thier economy is just starting to cool a bit because neighboring countries will work for less.
As far as the deficet I do blame Obama and his predecessor George Bush as well. I am a working person, am offended by being called a fool and don’t deserve a crumbeling world. I am truly sad over the degration of socity around me, I pay my taxes, bills, and am sick to see so many taking advantage in these times. The only way out of this mess is to live within your means and buy American made products.
Even if you are correct, the stimulus has been wasted on Solyndra and other crony projects that have wasted billions and produced nothing. Why didn’t you include the only power source that would actually save us money – Hydro?
Solyndra wasn’t billions.
Hydro capacity is simply not there, and is extremely expensive to build.
Try again, only this time with some facts.
Hydro is expensive?Compared to what ? And as capacity goes, we’ve got plenty.Look to Canada, compare it to what the Lib’s are trying here. The difference is, Hydro actually works and can be delivered in a useful way, unlike solar and wind. Canada is doing as well as it is Largely due to Hydro power. When I say largely , I mean almost solely.
Solyndra by it self was not Billions, but combined ,the failed Green stimulus failures are Billions,
Your next attempt at being dismissive and snooty should not include challenges you are unprepared for.
The stimulus was hundreds of billions, a large part of it wasted. Unlike wind, Maine has abundant hydro resources that would provide cheap, clean reliable power long after the wind towers will be rusting hulks.
I’m all for investing in solar, in general, but not in the way it was done for Solyndra. Get lobbyists out of the picture!
Get government out of the picture. If solar, wind, and fairy dust are viable then people will invest in it. If not for the loony enviros, we’d have cheap, clean, reliable hydro in Maine.
Asking the consumer to take on the role of the conscientous citizen is not enough — consumers behave as “consumers” and opt for the most for the lowest price without regard to who pays the real costs.
We have to decide, as citizens, what sort of economy we want. …whether or not we accept exploitation of our own or other people.
do they make steel toe work boots also?
If we went that far politicly they would probebly cash in thier us savings bonds they own like 78% of them it would destroy our economy we have to make a choice to do it as an individual. China will let things go as it is now cause its slowly killing us and contributing to thier’s.Fortunatly big corperation’s are fine with it to, they don’t need to deal with pesky things like loyalty patriotism etc. they are fine with having American’s train their own replacements shortly be4 they dump them to the curb.At least if the last 25 years is any indication.
No it Didn’t.
Most economists would disagree with you on that.
on edit…
Before you ask me to provide my sources. please provide yours.
I hate to state the obvious for you but this is not 1940. Or 1950 or even 1960. We have a global economy and the US is not well prepared for the competition. 1040’s spending is not going to work and has not worked under Obama.
You are right we have a global economy and MR.Lepage wants to make sure us workers are paid and treated like they are in 3rd world countries . Now big business dose not need licensed electricians . When you can get high school kids at half the cost.
I don’t think it’s just Lapage I think it’s a group of big money people who want to purposely collapse the country, the same people buying of the election’s/politician’s.I guess many would call it conspiracy theory but if you take into account the last decade makes you wonder.I mean during the depression and WW2 they used infrastructure and savings bonds.Now they borrow from a communist country who hate our way of life, what person in thier right mind does that and put’s N.Dakota up for callateral.Yet can’t even establish a YEARLY budget,before you start you can’t pin that on Obama, pin that on all of them.
That our form of capitalism is dependent on labor conditions that are only possible in authoritarian regimes? …and huge subsidies from those same tyrants? …that we rightly reject for our own citizens?
What does that say about our form of capitalism?
The Great depression was only “Great” for the U.S,everyone else recovered relatively quickly.It was the policies that you mention that delayed our recovery and made it “Great”.The Brain Trust of the 20’s took advantage of a situation to advance an agenda, Just as Obama’s has, both extended the pain.
The Great Depression was in the 1930’s, not the 1920’s. The Brain Trust of the 1920’s left with Herbert Hoover in 1933. Germany broke out of the depression through massive government spending as Hitler and company built up Germany’s military and its infrastructure. The USA broke out of the depression with a massive stimulus program generally called World War II.
Wow.
The “Great depression” stated in 29 for most of the world, Stock Market began to nose dive in Sept. of 29 and finally crashed in Oct.
Samuel Rosenman was a friend and adviser to FDR The core of the first Roosevelt brain trust consisted of buddies of Roseman’s,a group of Columbia law professors (Moley, Tugwell, and Berle). These men also played a big role in Roseman’s career starting as adviors for him in the 20’s when Roseman was elected to the New York State Assembly in 1922. These men were FDR’s “Brain Trust” and had been together and active in politics since the early 20’s.
Our recovery from the “Depression” was delayed til the start of WWII only due to our first Keynesian experiment run by FDR and his Brain trust.
P.S there was a depression in the early 20’s, 1920–21,the reason you dont know /talk about it is the market was allowed to correct itself and it did so very quickly, It was in many ways much more severe than the later one.
It is a great example of the two theory’s in dealing with these situations. One works and works quickly, the other , both attempts,well.you see.
Though an improvement over the laissez-faire policy of Herbert Hoover, FDR could not end the Depression right away. What he DID do, and why he was so beloved, is ease the PAIN of the Depression for so many…. Sadly, this time around our leaders did not see a need to address that — saved only the banks and corporations who are now bigger than ever.
actually the ripple in the pond happend in 1922 it was a warning that something wasn’t right.evidently they ignored it to and the depression came after.Ron Paul was just talking about that on the squak box news cast.
Maine could afford to borrow millions, but political will to issue bonds is questionable.
This headline is inaccurate. Maine can’t “afford” to borrow any more money, until they pay down some existing debt.
Read the list of existing Maine debts at the Treasurer’s lists, below. Please note the listings with “hundreds of millions,” as well as the ones with “billions” in the tagline.
http://www.maine.gov/treasurer/debts_bonds/debt_summary.html
http://www.maine.gov/treasurer/debts_bonds/debt_service_summary.html
“Can” doesn’t equal “should.”
Existing debt does get paid down. Bonds are not only issued – they are paid off and retired.
Maybe we should not borrow more, but one thing we should do is to be forthright when we discuss the issue. Reading these forums would give one the impression that Maine only adds debt. One never hears that we retire debt.
For the record, I am a conservative. When it makes sense.
How can you pay down debt while doling out tax cuts? I’d take you seriously if that money had been used for debt reduction. It’s a phoney issue.
Cut spending, anymore questions?
I thought paying debts was primary. If it isn’t then don’t say so.
Here are the differences between your idea and mine. Your Idea is to raise taxes to pay for things we already collect taxes to pay for,throw more money at the problems we have. Mine ,well, mine makes sense.
Your idea? “Starve the beast” — except for anything anyone in the Tea Party wants, which about covers EVERYTHING. Force cuts in anything the Tea Party doesn’t want which… oh, wait…. polls show they want EVERYTHING but childishly don’t want to pay taxes, or (gasp!) tax the wealthy and corporations the way our parents and grandparents did to build a society for US!
Mine? Well, makes sense. Have our fights about what we want, then, grow up, raise the revenue to pay for it
The headline seems to be one for an editorial, not an article.
We have trouble paying our existing expenses, so “could afford” seems to be inappropriate even if this were an editorial.
Now would be a great time to borrow money to fix things that need to be fixed, like infrastructure and schools. Interest rates are at an all-time low = cheap money to work with.
Your road have potholes? Washing out? Call the Governor, he’ll be out to fix them himself (smile).
Well we could start by giving colleges nothing if they spend more on sports than the sports bring in. Do not give me this bull about school spirit or it is good advertising . people who want to go to college know already know where the colleges are. When we can afford to pay coaches $250k a year with benefits I think that is a bit much. Only about 1% off college kids play sports.
Why are we so fixated on borrowing money on things that should otherwise already be included in a budget? Roads and bridges are a normal year to year maintenance item that needs to be tended to on a regular basis. There are obvious facets of a household budget that a person would never consider borrowing money on, why should the state government? Because they are too busy allocating the lionshare of the taxpayer money on the DHHS, education, and mandates on special education. Time to take a bottom up review on where all the money goes. Thanks LePage. Job well done.
Because a certain segment of the population is always complaining about the costs of government and will try to get politicians to lose elections if they perceive them to be spenders. The only other recourse to pay for necessary items is thru bond issues. That segment of society can’t use bond issues as ammo to unseat a politician they disagree with.
Here’s how it worked under the failed Baldacci administration. Money raised for roads and bridges was taken and spent to grow social programs to buy votes. Then the cry went out that we needed to bond for roads and bridges. We’re not doing that any more, so we don’t need the bonds.
Pay now or pay much more later.Letting roads and bridges go is not going to solve anything.They need fixing and we will pay a much higher cost the longer we wait.Lepage really doesn’t want to create jobs.He wants to make sure there is less money so he can place all the blame on the poor,unions ,education,ect. and put forth his social agenda.
You can’t borrow your way out of debt!
the democrats always say its a great time to borrow as the rates are low,
so here’s my take on what lepage has said on borrowing. run down to your nearest new car dealer and look at those loan rates ,yes! they are amazingly low! now’s a great time to buy that big SUV you always wanted.. but…look at those payments, yes the rates are great but the payments are pretty big. can we afford it? if were sitting here with hesitation -first instinct is no. but those rates are just too good to pass up, says the dems.. what can we shortchange to make these payments? healthcare? already did that, welfare? apparently its too much but cant be cut,then what? just look back 30+ years at the progress we have made, look at our infrastructure, our schools, our way of life. are you happy with those potholes, bridges,loss of services and the like? Remember Ross Perot ? and that quote ” the giant sucking sound will be all of our jobs going over seas?” we all laughed then ..look at us now. Its gonna take more than just lepage to fix this. we need to start by staying within our means.
Is is astonishing to see a politician to have the will, the discipline NOT to issue bonds. There is no free money people. It’s just a credit card we all have to pay. Do you need more credit card debt?
As an Independent I am constantly struck by the imagination, and sheer nerve, that Maine’s Elected Official’s try to use to sneak political ‘pet’ project’s thru without being caught. It’s interesting, isin’t it, that this ‘sudden’ article claiming Maine has the ability to ‘borrow’ $ 24 Million comes out less than 10 days after the State Treasurer ‘suddenly’ claims that Maine has a $ 35 Million dollar source of ready cash now available ? Now I may not be able to count all of the cattle on the farm but even I know that when you have a barn supposedly full of only cow’s, and a calf suddenly shows up, that there’s been some ‘poking’ going on. And given the timing of these 2 article’s, and the sudden rush to see the E-W Highway study funded, am I the only one to see a ‘poke’ going on ? If Maine was really smart, they’d take this supposedly newly found ready cash source and use it to pay down the existing bond’s and fix the DHHS mess. But instead we have elected official’s, who were elected on platform’s of fiscal responsibility and conservitism, wanting to go out and SPEND this revenue on project’s that don’t benefit, either now or in any future, the citizen’s and small business’s of Maine. Instead these same official’s now want to spend what little cash the State has on project’s that benefit business’s that these same official’s are gonna’ go back to when they get the heave-ho after the next election. How’s that for a ‘poke’ ?
This is a great time to fix some roads. Interest rates are historically low because we have been responsible with bonding in the past and only bond for 10 years, not 15 to 30 as in other states. Whats more is we need the jobs and the roads certainly need work.
America has been a reasonably successful experiment in government up until now. The “me first” generation has placed that in jeopardy.
At a time when America, and Maine, are falling behind, we need to increase investment in our shared future, not curtail it.
Every year we sit back and do nothing to bring progress, the rest of the world continues to move without us. Luck is where opportunity meets preparation. This is the preparation part. Build infrastructure and promote education. Those investments in the commons have never let us down.
Just tell Lepage the bonds are for Canada. He will sign them in a minute.
Nice Op Ed piece. Why isn’t it posted on the Opinion page?
Stop Spending. No bonds.
LiePage is a threat to this state. Since we seemingly can’t impeach him, the only solution is to vote in a solid Democrat majority in the house and senate this November.