MUST READ! Foreign Privatization of U.S. Highways
AMERICA IS A COUNTRY - NOT A COMMODITY
BEING AN AMERICAN IS AN HONOR - NOT A RIGHT
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When the roads begin to crumble and potholes begin to appear, elected officials can do nothing but say, “we’re sorry, it’s out of our hands for the next 99 years.”
By Henry Lamb
American roads are the hottest commodity in the international marketplace. State and local governments are falling all over themselves to sell off highways, bridges, and all sorts of other revenue-producing infrastructure, to international financiers who are eager to snap up structures Americans have already paid for, and for which they continue to pay maintenance costs through endless taxes. The Chicago Skyway, for example, brought $1.83 billion from a Spanish-Australian partnership. The 157-mile Indiana tollway, brought $3.85 billion from the same partnership. And the state of Texas has recently concluded a deal to sell a Trans-Texas Corridor for $7.2 billion to the same Spanish company who partnered with a Texas construction company.
American roads are the hottest commodity in the international marketplace. State and local governments are falling all over themselves to sell off highways, bridges, and all sorts of other revenue-producing infrastructure, to international financiers who are eager to snap up structures Americans have already paid for, and for which they continue to pay maintenance costs through endless taxes. The Chicago Skyway, for example, brought $1.83 billion from a Spanish-Australian partnership. The 157-mile Indiana tollway, brought $3.85 billion from the same partnership. And the state of Texas has recently concluded a deal to sell a Trans-Texas Corridor for $7.2 billion to the same Spanish company who partnered with a Texas construction company.
What’s going on here?
Why are government officials so eager to sell off our infrastructure? Because it’s a win-win deal for everyone - except the people who pay taxes and use the highways. Governments get a pot full of cash up front, and the “public-private” partnerships get a long term cash-cow. The taxpayers and highway users get ______, well, you fill in the blank.
Actually, these “sales” are long term leases, which is much worse than an outright sale. The Chicago Skyway deal is for 99 years. The Indiana Tollway is for 75 years. In what condition will these important roads be when they are returned to government?
The folks who celebrate the deals today - and spend the billions - will be pushing up daisies by the time a new crop of government officials will have to explain why the roads have crumbled. The roads that exist today were bought with taxes and tolls. They are maintained with taxes and tolls. Neither taxes nor tolls will be reduced when these roads are sold to public-private partnerships. In fact, taxes are likely to increase, and the tolls are certain to increase. Tolls for commercial use on the Indiana Tollway were scheduled to double during the first three years of the deal. Auto tolls would remain flat for the first three years, and then “catch up” with the commercial rate.
When the taxpayers and highway users get slapped in the budget by these increases, and complain to their elected officials, the elected officials can do nothing but say “we’re sorry, it’s out of our hands for the next 99 years.”
READ IT ALL, GET PISSED AND PASS IT ON!!!
posted by jillosophy at 5/21/2007 04:22:00 PM
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