Tuesday, January 13, 2009

The No Spin Zone

Brian Balfour over at Red Clay Citizen takes the Democrat political spin out of the $744 million in debt spending the state is taking on as a part of the supposed "stimulus" plan.
State "Stimulus" Without the Spin

"Taxpayers of North Carolina will be forced to finance $744 million worth of government projects over the next few years, essentially guaranteeing future tax increases as the debt will be paid back with interest. Further, said government projects will require millions more in tax support to staff and maintain into the unforeseeable future, sucking even more resources from the productive sector.

Meanwhile, tons of steel, concrete, labor and other scarce resources will be diverted away from private, wealth-generating projects created to satisfy consumer demand. These resources will be shifted to non-productive government projects chosen for their political considerations. Economic growth will be slower in the short term as a result."