November 11, 2008

Over 60% of Pennsylvanians are clueless about finances!

That is according to a new poll. What poll you ask? The ballot question on the November 4th election of course.

The question was “Do you favor the incurring of indebtedness by the Commonwealth of $400,000,000 for grants and loans to municipalities and public utilities for the cost of all labor, materials, necessary operational machinery and equipment, lands, property, rights and easements, plans and specifications, surveys, estimates of costs and revenues, prefeasibility studies, engineering and legal services and all other expenses necessary or incident to the acquisition, construction, improvement, expansion, extension, repair or rehabilitation of all or part of drinking water system, storm water, nonpoint source projects, nutrient credits and wastewater treatment system projects?"

Over 60% of voters selected yes, meaning I support the government issuing a bond (debt, taking out a loan) to do something with water. As you can read from the question it is pretty vague. Will they be grants or will it be loans? What is a nonpoint source project or a nutrient credit?

I have no idea, but the people of PA must think it is a good deal. If the question read something like “Do you favor increasing taxes to fix water problems?” People would have voted NO! However, they voted yes.

They must not think bonds (debt) need to be paid back with interest! Where does that money come from? Taxes! Does the state have the money to pay this debt back? No. What will they do? Raise taxes! Clueless rednecks as Murtha would say.

By the way, I’ll bet the majority of the money goes to Philadelphia, Scranton, Harrisburg, and Pittsburgh.


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