Originally posted in a LVRJ Forum
[NPRI] ridiculed Gibbons' new budget plan, saying he is trying to keep state spending at $6.1 billion when it should be $5.1 billion.
State government should minimally fund the few, constitutionally required government functions. Total cost: $100M per year, and probably less. NPRI supports BIG government, which it must be noted, is still smaller than the GIGANTIC government the Republicrats are likely to give us.
That $160M LOC is a real scam. It was delivered to government-order by our illustrious political hack state Treasurer, Kate Marshall. You remember her, don't you? She is the person who parked $50M of state funds in a Lehman Bros. investment account she believed was "risk-free". When Lehman went under, they took our $50M with them. Huh?! All Marshall had to do was read the investment prospectus and she would have seen the risks. Does our state *Treasurer* even *know* what a risk-free asset is? This is incredible. Sorry, but Marshall's conduct in this affair was either incompetent or criminal. Her actions really do warrant official investigation. She really should resign. It's not every day in the week that a small state treasurer makes a $50M mistake.
Now Marshall wants to allow $160M of public agency funds (LGPIF) to be loaned to the state. Some of this money comes from an agency that you pay taxes or fees to. Do you really trust Kate Marshall to watch your money? I don't. This Line of Credit needs to be rescinded, or the money should come out of Kate's own pocket.
No comments:
Post a Comment