"So Meadows doing a shout-out to the feds, whom Perry is so fond of slamming, demonstrates just how fiscally reckless Perry's highway commission is, despite Perry's claim to a fiscal conservative pedigree," notes Terri Hall, Founder of Texans Uniting for Reform and Freedom.Add to that, the TIFIA loan program is 100% BORROWED money and you begin to see how these toll roads use the identical financing schemes that brought us the subprime mortgage crisis fueled by borrowed money being used to secure more borrowed money and then yet more borrowed money and so on. DEBT BOMB AND BAILOUTS
"This debt bomb is what so-called fiscal conservatives that run Texas want to wreak upon unsuspecting Texans for generations," Hall stated in disbelief.Indeed, a Commissioner said today that the Commission expects local leaders to 'leverage every penny' of the state gas taxes and other revenues it bestows upon each region -- or else don't ask us for any money. Translation: the Commission is MANDATING that local governments issue debt for STATE highways or they won't get their due allocations, regardless of state law that prohibits TxDOT from withholding money due to a region if officials decide not to include toll roads. The rumblings of a bailout for the coming infrastructure bubble just careened into a full throttle earthquake. One local official from the Rio Grande Valley even quipped:
"I've noticed there's a tsunami of leveraging." "Taxpayers and commuters weary from high gas prices had better wake-up and hold the Governor, lawmakers, and local elected officials accountable for their fiscal 'tsunami,' or they'll soon be overtaken by it with no turning back," warned Hall.TURF is a non-partisan, grassroots, all-volunteer group defending citizens' concerns with Agenda 21, toll road policy, public private partnerships, and eminent domain abuse. TURF promotes pro-taxpayer, pro-freedom, & non-toll transportation solutions. For more information or to support the work of TURF, please visit www.TexasTURF.org.