States looking to cash in assets
USATODAY.com News - Top Stories: "States and local governments across the USA are preparing to cash in valuable public assets for one-time windfalls that could reap tens of billions of dollars.
Illinois hopes to get at least $10 billion by selling its lottery and an additional $15 billion for leasing all or part of the 274-mile Illinois Tollway. Missouri plans to auction its student loan portfolio. Pennsylvania is considering leasing its highways, and Chicago is studying a plan to lease Midway Airport to private investors.
The deals would let governments collect billions of extra dollars without raising taxes but would reduce their future revenue.
This is what is known as penny wise, and pound foolish. Our children's work lives and payroll taxes are being dumped on like sand dunes by both state and federal governments all in the name of getting reelected today. I hate what my governments are doing to my daughter's future. They are guranteeing her work future will not be nearly as profitable or protected as mine, all other things being equal. -- David R. Remer, PoliWatch.Org.


