Pennsylvania Turnpike Debt Part 3 – Citizens Alliance – Democrats Can’t Be Trusted with Money – Et Tu, Tom Corbett?
CITIZENS ALLIANCE OF PENNSYLVANIA (CAP) advocates for The Forgotten Taxpayer and presents added breadth and depth to the Pennsylvania Turnpike Debt Bomb:
Act 44 was proposed as an alternative to privatizing the operations of the Turnpike by big government proponents and the Turnpike Commission. (Ironically, one of the most pervasive arguments against privatization was that tolls would go up.) Here is a colorful, albeit accurate analysis of the Act from Toll Roads News:
“Act 44 schemed up by the since-convicted and jailed racketeer state senator Vincent Fumo (Dem, Philadelphia) forced the Turnpike to issue new debt to cover payments to the state of $750m in 2008, $850m in 2009, and $964m in 2010 front-loaded for political salability, and based on highly optimistic traffic and revenue forecasts for both the Turnpike proper and I-80.”
That “highly optimistic” forecast came courtesy of the Democratic Caucus. READ MORE Citizens Alliance 30 August 2012