Minnesota legislators ready to pass $...

Minnesota legislators ready to pass $1 billion bonding bill

There are 48 comments on the TwinCities.com story from Feb 22, 2010, titled Minnesota legislators ready to pass $1 billion bonding bill. In it, TwinCities.com reports that:

The Minnesota House and Senate are poised to pass a $1 billion public works bill tonight night, despite Gov.

Join the discussion below, or Read more at TwinCities.com.

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Bill Gleason

Waltham, MA

#1 Feb 22, 2010
Nicely played by the legislature. The governor does not care to negotiate with ordinary people as we have seen time and time again. Now the ball is in his court. Do the line item vetoes and take the consequences - or his party will - for the cuts you make. Or veto the whole thing. This would clearly demonstrate how little the welfare of the State of Minnesota means to the Governor and how ambitious are his aspirations. Either way he is ensuring that his successor won't be a member of the GOP. Oh, and about job creation, governor...
Jon Q

Tekamah, NE

#2 Feb 22, 2010
So the Republicans are unhappy with the bonding bill because they had no input! Whose fault was that? If you chose not to participate then the faulty is yours!! Don't blame others is you sat on your hands and and did nothing. You have a job, do it or get out!
Porkers

Minneapolis, MN

#3 Feb 22, 2010
Vote them ALL out! What a joke. "Asian Cultural Center." yeah, exactly what I think of when I think Minnesota. Pave our way in bike trails to recovery?
Art centers that no one can afford to go see the shows at?? This is tired, special-interest thinking by ALL of the legislators. Save the partisan rants and just accept that they are ALL crooks already!!

Since: Apr 08

Black River Falls, WI

#4 Feb 22, 2010
What part of NO money do you demoncrats not get. There should be NO bonding bill period!!!

You have a deficit you need to fix first and foremost.
A concerned citizen

Saint Paul, MN

#5 Feb 22, 2010
So, let me get this straight. Remember when the federal government handed out over $700 Billion to hopelessly bankrupt banks, hedge funds, and insurance companies so they wouldn't implode under the weight of the phony derivatives bubble? Well, now, in order to finance even a fraction of the infrastructure and public works projects this state and country really need, we have to borrow $1 billion from the very same 'investors'. I sincerely hope no one out there still thinks this system works in their favor.

The only solution worth debating is absorbing the entire bankrupt federal reserve monetary system into a Third National Bank of the United States, taking back the bailout, sorting out all the bad debt using a Glass-Steagall standard, and generating public credit for long-term, physical economic infrastructure projects. This is completely viable by simply asserting the sovereignty of our federal constitution.
whatever

Saint Paul, MN

#6 Feb 22, 2010
Once again the dems want to let the predators roam free. Think about that this November.
Concerned

Minneapolis, MN

#7 Feb 22, 2010
So --the investors that buy into this bond would really be the only ones to be sure to make out real well. I'm sure there would be a very tidy return on a BILLION DOLLARS!I honestly can't believe the Dems wanna keep spending money we don't have -on Pork no less. I hope T-Paw finds a way to shut the fools down. Wonder what the percentage rate on that kind of loan is?
my opinion

Saint Paul, MN

#8 Feb 22, 2010
Concerned wrote:
So --the investors that buy into this bond would really be the only ones to be sure to make out real well. I'm sure there would be a very tidy return on a BILLION DOLLARS!I honestly can't believe the Dems wanna keep spending money we don't have -on Pork no less. I hope T-Paw finds a way to shut the fools down. Wonder what the percentage rate on that kind of loan is?
Governor Pawlenty is free to line item veto anything on this bill he wants. The problem with that is that it will still not allow him to spend our money where he wants to, Thus the whining. I guess if Pawlenty wanted to be able to spend on his projects he should have kept his position in the house and not become Governor.
Aaron

Minneapolis, MN

#9 Feb 22, 2010
"would fund infrastructure projects that are critical to the state's economic growth. "

"Transportation projects would receive $146 million. The bill allocates $67 million to repair or replace deteriorating local bridges and $44 million for metro area bus and rail transit projects. "

Seriously!? The only portion of this stupid bill that would be good for economic growth is the bridge repair. Rail transit is just another Amtrack that will never make a profit.

More money is going to the schools than to our infrastructure. Education already consumes 49.1% of our budget. What a boondoggle.
John

Saint Paul, MN

#10 Feb 22, 2010
Personaly I could use a 4 billion to piss away , just like the dems like to do spend on bull sh.t stuff,like they always do. i just want a 4 billion thats all , what the hell since its the tax payers that will pay for it.i could start some kind of buiness with it, and say that it will help the econemy and maybe take a trip around the world while I am at it.That would be nice!
Billy Bob

Marietta, GA

#11 Feb 22, 2010
Let's do some cutting first and see how much we can come up with first. Oh wait that makes too much sense.
Murph

West Salem, WI

#12 Feb 22, 2010
The really bad news is even someone as clueless as Pawlenty has to recognize the resounding NO! he got at CPAC.The moderates got the overwhelming YES vote!Keep in mind this was the CONSERVATIVE action PAC! So much for Timmy's rebel whines and whimpers!He shoulda done a better job governing ,instead of that he became one the major reasons the GOP will be the biggest losers to the tea bags in 2010 and 2012! Oh and of course he'll veto it,he probably wants to fly off and embarrass his party even more at some new whistle stop this week!What a ninny!

“Wher's dem turkey necks?”

Since: Dec 08

Palm Desert, CA

#13 Feb 22, 2010
Will Pawlenty veto the $18 million to buy a bunch of trees near Lake Vermilion to bail out US Steel who owns the property? Or is that a separate bill?
More Pork Please

Minneapolis, MN

#14 Feb 22, 2010
Study: States must fill $1 trillion pension gap

http://www.msnbc.msn.com/id/35448576/ns/us_ne...

HARRISBURG, Pa.- States may be forced to reduce benefits, raise taxes or slash government services to address a $1 trillion funding shortfall in public sector retirement benefits, according to a new study that warns of even more debilitating costs if immediate action isn't taken.
Another time bomb waiting to go off.


I've been reading this for years.

Gubermint unions are bankrupting our country...it' s us VS. them (private sector against public)

--nowhere is it more true than CA an NY. They are the models of our pending demise. don't expect in government to take any serious action .

http://www.pensiontsunami.com/public.php
LGA Larry

Minneapolis, MN

#15 Feb 22, 2010
Aaron wrote:
"would fund infrastructure projects that are critical to the state's economic growth. "
"Transportation projects would receive $146 million. The bill allocates $67 million to repair or replace deteriorating local bridges and $44 million for metro area bus and rail transit projects. "
Seriously!? The only portion of this stupid bill that would be good for economic growth is the bridge repair. Rail transit is just another Amtrack that will never make a profit.
More money is going to the schools than to our infrastructure. Education already consumes 49.1% of our budget. What a boondoggle.
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.
Ranger47

Estero, FL

#16 Feb 22, 2010
We're broke, we can't afford it, the budget isn't balanced, this adds to our debt. What in God's name are these legislators thinking?

My son is out of work. So following the legislators example he should open up more credit cards and spend...wow! Kick these folks out!!
Concerned

Minneapolis, MN

#17 Feb 22, 2010
my opinion wrote:
<quoted text> Governor Pawlenty is free to line item veto anything on this bill he wants. The problem with that is that it will still not allow him to spend our money where he wants to, Thus the whining. I guess if Pawlenty wanted to be able to spend on his projects he should have kept his position in the house and not become Governor.
Please stay in Chicago-your comment had nothing to do with mine.
Aaron

Minneapolis, MN

#18 Feb 22, 2010
LGA Larry wrote:
<quoted text>
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.
Do you have a link to this crap? I would be interested in seeing it if you could provide it.

Thanks,

Aaron
huh

United States

#19 Feb 22, 2010
Im not sure I understand the economics of this, They want to spend a billion dollars for 21,000 temporary jobs? We are broke, we spend so much on social services, why not let those people go out and help build the bridges and roads for there monthly check, repair the rail ines that will never be used by a small percentage of society, rather than sit on there arses all day playing x-box or whatever occupies there time, babies daddy would probably move on then huh!, they can do the labor that doesnt require alot of experience or intelligence, bet they would find work then, or move to another state. Why do we want to spend money on civic centers, trails and theaters but not on a treatment facility that will keep monsters away from our children, I dont agree with everything Pawlenty wants , but he is trying to show some fiscal responsability, a 1 millon bonding bill STILL HAS TO BE PAID BACK!!!!!!!
Porkulus

Minneapolis, MN

#20 Feb 22, 2010
Aaron wrote:
<quoted text>
Do you have a link to this crap? I would be interested in seeing it if you could provide it.
Thanks,
Aaron
https://www.revisor.mn.gov/bin/getbill.php...

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