Minnesota House OKs $1 billion capita...

Minnesota House OKs $1 billion capital spending proposal

There are 45 comments on the TwinCities.com story from Feb 15, 2010, titled Minnesota House OKs $1 billion capital spending proposal. In it, TwinCities.com reports that:

Hours after Gov. Tim Pawlenty proposed cutting state spending by $825 million to balance the state budget, the Minnesota House voted Monday night to borrow more than $1 billion to finance public works projects.

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Ann

Minneapolis, MN

#1 Feb 15, 2010
This is not good. We need to follow our leader, Tim Pawlenty. He has the vision and knowledge to lead us.
Rational

Saint Paul, MN

#2 Feb 15, 2010
Ann wrote:
This is not good. We need to follow our leader, Tim Pawlenty. He has the vision and knowledge to lead us.
Oh, yes - he's a fine leader. Mastered the art of vetoing his own spending proposals, relying on his loyal rubes not to notice the chicanery.

When's the last time he was in Minnesota? It's hard to keep track, as he's been running for president since the day he became governor.
gdpcon

Plymouth, MN

#3 Feb 16, 2010
Great plan, temporary jobs! Let's take another billion dollars out of the market from people who actually know how to run a business. Clueless DUMOCRATS.
CynicalCindy

Saint Paul, MN

#4 Feb 16, 2010
We need a Unicameral legislature!!
yeah right

Hopkins, MN

#6 Feb 16, 2010
More borrowing and spending from our government... just what we need.
whatever

Saint Paul, MN

#7 Feb 16, 2010
Borrowing money is ok as long as the project you are performing does not need to be addressed again before the loan is paid off. Otherwise, not very smart.
Veto it please

AOL

#8 Feb 16, 2010
Liberal pork is a lot of it. Veto it Guv, we're fed up with the DFL spending.
Keep Printing More

Saint Paul, MN

#9 Feb 16, 2010
Rational wrote:
<quoted text>
Oh, yes - he's a fine leader. Mastered the art of vetoing his own spending proposals, relying on his loyal rubes not to notice the chicanery.
When's the last time he was in Minnesota? It's hard to keep track, as he's been running for president since the day he became governor.
Thanks Ration-it-all for another insightful, DFL talking point. I know you enjoy spending everyone else's earned income. Would you propose to print more or borrow more? Apparently those are the only two options from the DFL. How about a little personal responsibility and government fiscal responsibility? The solution always appears to be throw more money at it. See your local school district for that fine example ... has a year passed in the last decade when we're not asked for more and more?

“Celebrate Liberty and Freedom”

Since: Sep 09

Mpls

#10 Feb 16, 2010
Libs keep on spendin and spendin but as soon as you tell them the mass deficits they have created by bark out Bush's fault. Take some responsibility for your own failed programs
Rational

Saint Paul, MN

#11 Feb 16, 2010
Keep Printing More wrote:
<quoted text>
Thanks Ration-it-all for another insightful, DFL talking point. I know you enjoy spending everyone else's earned income. Would you propose to print more or borrow more? Apparently those are the only two options from the DFL. How about a little personal responsibility and government fiscal responsibility? The solution always appears to be throw more money at it. See your local school district for that fine example ... has a year passed in the last decade when we're not asked for more and more?
Hilarious.

First of all, I'm pretty sure the DFL can't print money. That's a federal thing.

Second of all, borrow-and-spend is a trademark of people like Pawlenty. You act like you were born yesterday and don't notice the over $11 trillion in debt Republicans have racked up over the years.

You also seem to be oblivious that Pawlenty wants to borrow and spend, too, just for different things.

As for your local taxes going up, welcome to the result of cutting local aid to pretend you're not raising taxes. That's what Pawlenty's been doing these past 7 years, all to serve his presidential ambitions.

Things cost money. We're going to have schools, firefighters, cops, libraries, parks, and so on. Stamping your little feet is not an answer, nor is pretending things don't cost money.

If you have informed, intelligent proposals, share them. Otherwise, you're just making pointless, forgettable noise.
Rational

Saint Paul, MN

#12 Feb 16, 2010
Tank Murdoch wrote:
Libs keep on spendin and spendin but as soon as you tell them the mass deficits they have created by bark out Bush's fault. Take some responsibility for your own failed programs
Republicans left Obama over $11 trillion in debt the day he took office. Half of that is Bush's fault. Deal with it.
reed

Duluth, MN

#13 Feb 16, 2010
stadium vikes now!
Justice For All

United States

#14 Feb 16, 2010
Obama will add nearly 3 trilliion to the national debt in his first 2 yrs in office. Having Nancy control the finances since 2006 has not been a good thing. Neither Nancy or Obama have any fiscal control and Obama lifted the debt celing to 14 trillion just recently.
mnhusker

Elk River, MN

#15 Feb 16, 2010
Man alive the democrats are irresponsible with our money. Didn't we just pass a gas tax a few years ago for these projects? We are completely broke and the dems want to spend another billion. Please vote these people out before they do more damage to this state.
mnhusker

Elk River, MN

#16 Feb 16, 2010
Rational wrote:
<quoted text>
Republicans left Obama over $11 trillion in debt the day he took office. Half of that is Bush's fault. Deal with it.
I can tell you watch MSNBC. That sounds like one of their lies.
felix

Saint Paul, MN

#17 Feb 16, 2010
Rational wrote:
<quoted text>
Republicans left Obama over $11 trillion in debt the day he took office. Half of that is Bush's fault. Deal with it.
RETARDED
Rational

Saint Paul, MN

#18 Feb 16, 2010
mnhusker wrote:
<quoted text>
I can tell you watch MSNBC. That sounds like one of their lies.
Uh, no. You are free to consult the Treasury Department data for yourself.

http://www.treasurydirect.gov/NP/BPDLogin...

I don't watch TV news. My data is always from primary sources.
Rational

Saint Paul, MN

#19 Feb 16, 2010
felix wrote:
<quoted text> RETARDED
Republican hypocrisy about fiscal matters? I agree.
Rational

Saint Paul, MN

#20 Feb 16, 2010
mnhusker wrote:
Man alive the democrats are irresponsible with our money. Didn't we just pass a gas tax a few years ago for these projects? We are completely broke and the dems want to spend another billion.
Tim wants to spend $700 million. Is that magic number OK since it comes from him?
LGA Larry

Minneapolis, MN

#21 Feb 16, 2010
As you would expect, the bill is a $1 billion collection of ear marks, pork, and goodies for the DFL’s favorite constituencies.

Let’s revisit both the reasons why a debt-financed bill isn’t a good idea and the specific pork larded into the DFL versions of their respective bills.

First, the DFL makes the incredible claim that the bonding bill will “stimulate” the economy and put people to work. Please.

How has the Democrat stimulus bill out of the federal government worked out?
We remember when it was claimed that the stimulus bill would keep unemployment below 8%. The White House celebrated this week when unemployment dropped to 9.7%. Wow.

The DFL doesn’t understand that government spending doesn’t create jobs. The government merely takes money out of the private economy and re-circulates it far more inefficiently than the markets ever would. Government money can temporarily put one man to work digging a hole and another to fill it, but it can’t create a sustainable job.

Moreover, the DFL keeps braying on about low interest rates as a justification to enact a monstrous,$1 billion bonding bill. Cheap money isn’t free money.
The state is facing an immediate $1.2 billion deficit and a $5 billion deficit in the
next fiscal biennium. When you’re flat broke, even cheap money is out of reach.

Third, the bonding bill is financed by debt. It’s financed by the state
selling debt on the open market just like Washington does. Haven’t we had enough of
this credit-card mentality? Our children and grand children are handcuffed to a
mountain of Chinese financed debt and we just keep digging and digging. Enough is
enough.

Finally, this may be a technical point but it has significant bearing on the
question of “shovel ready” projects. The DFL crows about the need for an early
bonding bill to put people to work. Putting aside all other arguments for a moment, it is
impossible to get projects out the door that quickly.

Remember that a bonding bill doesn’t mean the state loads up a bag of money
and walks out the door to hand it out. Bonds are financial instruments that are
sold in the financial marketplace. They contracts, they are legal documents, and
they are complex. In order to protect the state and ensure a smooth sale, a
complex “due diligence” process is required to satisfy both the state and the marketplace that the bonds are what they purport to be. That process takes many weeks and means that even a bonding bill passed in February or March wouldn’t be ready for market until early summer.

So what kind of “critical” projects are included in the DFL proposals?---

American Indian Learning Resource Center ($6.7 million)

· Bike and hiking trails ($39 million)

· Minnesota Zoo ($32.5 million)

· Rochester volleyball center ($4 million)

· Springbrook Nature Center ($2 million)

· Wirth Park Winter Recreation ($1 million)

· Minneapolis Sculpture Garden ($2 million)

· Dakota County bicycle tunnel ($344,000)

· Old Cedar Avenue bicycle bridge ($2 million)

· Rock Island Park trail development ($1 million)

· Potter Center for the Arts ($7 million)

· African-American Cultural Center ($840,000)

· Mankato Civic Center ($14 million)

· Orchestra Hall ($17 million)

· Rochester Civic Center ($28 million)

· Saint Cloud Civic Center ($15 million)

· Ordway Center ($16 million)

· Asian-Pacific Cultural Center ($7 million)

· Oliver Kelly historic farm ($10 million)

· Moorehead sports complex ($4 million)

· Ice arenas ($2 million)

· Midtown Famers’ Market ($500,000)

· Como Zoo ($11 million)

· Chatfield Arts Center ($2.2 million)

· Arrowhead Sports Complex ($3 million)

· Saint Paul Saints stadium design ($250,000)

The DFL claims they understand the seriousness of the budget crisis. They’re actions suggest otherwise.



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