DarkDawg wrote:I don't think tolls or taxes are the answer.
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I think the answer is a massive scaling back of unnecessary projects like 8 lane highways and such along with increased light rail. People will just have to accept fewer maintained lanes and I think there will be fewer drivers on the road anyway.
ST. PAUL, Minn. – Minnesota is deep in the hole financially, but the state still owns a premier golf resort, a sprawling amateur sports complex, a big airport, a major zoo and land holdings the size of the Central American country of Belize.
Valuables like these are in for a closer look as 44 states cope with deficits.
Like families pawning the silver to get through a tight spot, states such as Minnesota, New York, Massachusetts and Illinois are thinking of selling or leasing toll roads, parks, lotteries and other assets to raise desperately needed cash.
Minnesota Gov. Tim Pawlenty has hinted that his January budget proposal will include proposals to privatize some of what the state owns or does. The Republican is looking for cash to help close a $5.27 billion deficit without raising taxes.
GOP lawmakers are pushing to privatize the Minneapolis-St. Paul International Airport and the state lottery. Both steps require a higher authority — federal legislation in the case of the airport, a voter-approved constitutional amendment for the lottery. But one lawmaker estimated an airport deal could bring in at least $2.5 billion, and the lottery $500 million.
Massachusetts lawmakers are considering putting the Massachusetts Turnpike in private hands. That could bring in upfront money to help with a $1.4 billion deficit, while also saving on highway operating costs.
In New York, Democratic Gov. David Paterson appointed a commission to look into leasing state assets, including the Tappan Zee Bridge north of New York City, the lottery, golf courses, toll roads, parks and beaches. Recommendations are expected next month.
Such projects could be attractive to private investors and public pension funds looking for safe places to put their money in this scary economy, said Leonard Gilroy, a privatization expert with the market-oriented Reason Foundation in Los Angeles.
"Infrastructure is more attractive today than ever," Gilroy said. "It's tangible. It's a road. It's water. It's an airport. It's something that is — you know, you hear the term recession-proof."
Selling Assets
smallpoxgirl wrote:The next chapter of the great American pawn shop economy.
You think the Saudis are gonna Pony Up a few billion to buy a Minneapolis Park? For WHAT purpose? Building housing on it? LOL.
NoahsDove wrote:I heard US politician know less about the American Constitution than the average fifth grade educated Americans. I'm surprised this country has lasted as long as it has. It's going down fast. I guess we have to keep feeding those construction workers making $50 bucks an hour holding up signs building bridges to nowhere. This country is going to spend it's way out of existence.
Heavy and civil engineering construction 20.32
Highway, street, and bridge construction 20.67
Utility system construction 20.52
Other heavy and civil engineering construction 19.22
Land subdivision 17.8
Michigan pays $16 million in M-5 land seizure
... Michigan has paid a developer $16 million after seizing land for a highway project in metro Detroit.
Trans-Texas Corridor dead; I-69 not
... To pay for it, the state intends to use a public-private partnership to fund $1.5 billion in upgrades to existing highway facilities in Corpus Christi and the Rio Grande Valley, which will include tolls for new lanes to handle additional capacity on South Padre Island Drive from the Crosstown Expressway to Ennis Joslin Road.
Limitations on US highway spending must be addressed
... With increased authority, private investors can take on more responsibility for the construction, maintenance, and operation of the public roadway.
House leaders called for $30 billion for highway construction and $10 billion for mass transit and rail. link
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