Bleeding Heartland: Attack of the misleading talking points
Excerpted from this post at Bleeding Heartland
It's only been a few weeks since the Iowa legislature's 2009 session ended, and I'm already tired of hearing Republican attacks on the $830 million infrastructure borrowing program (I-JOBS). The bonding proposal was among the most important bills passed this year. However, to the Party of No it was a terrible idea because paying back $830 million in bonds will cost a total of $1.7 billion. Iowa Republicans "support funding infrastructure projects on a pay-as-you-go basis." In other words, while the economic recession is bringing down state revenues, we should sit tight and only improve our infrastructure when the state has the cash to pay the full cost up front.