http://treylaura.blogspot.com/2008/12/these-privatization-programs-are-insane.html
Apparently numerous other governmental entities have the same insane idea. I am telling you these deals are absolute fiscal cancer!!!
From Yahoo News:
"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 [TW: pawning the silver instead of facing up to reality!!!]...
Taxpayers, too, can lose out if the arrangements don't work...Higher tolls on privatized roads can push drivers onto state-operated roads, wearing them down faster and raising public costs over time.
"You're privatizing some profits in this process and socializing some losses,"...
Selling or leasing public assets can produce an immediate infusion of cash for the state, while foisting the tough decisions, such as raising tolls, onto private operators instead of the politicians.
"The downsides are often after they leave office," said Phineas Baxandall, a researcher with the consumer-oriented U.S. Public Interest Research Group in Boston.
http://news.yahoo.com/s/ap/20081227/ap_on_re_us/meltdown_selling_assets
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