Pat Crowley Gives KYCFG some ink
Pat Crowley wonders who the fiscal conservatives are now?
In Frankfort, it is Republicans leading the charge to spend billions and billions of new dollars. Certainly some Democrats will go along, but it is the Senate Republicans who want to borrow nearly $1 billion to shore up the state's pension system.
"Borrowing your way out the pension system is the most ridiculous thing in the world," said Brian Richmond, executive director of the Kentucky Club For Growth. "If you can't pay your mortgage and car payments, do you take a loan to pay them?
"Politicians who have mismanaged the pension system for decades are now asking our children and grandchildren to pay for it," he said.
Richmond has similar concerns about the bill filed by Senate President David Williams, a Burkesville Republican. It attempts to address the replacement of the Brent Spence Bridge over the Ohio River.
Williams' bill, which has plenty of Northern Kentucky lawmakers squeamish, would allow local governments to form finance authorities that could raise money for big infrastructure projects, like the Brent Spence Bridge.
Good idea, until you read the fine print. Tolls might be the only way for those finance authorities to pay for the projects.
In principle, of course, tolls are a great way to pay for road and bridge construction. The problem is that overspending in most other areas of state finance make tolls an unattractive option for a state that ought to be jump starting its economy.