In previous letters, I have noted the failed leadership of the majority Democrats in the Maine Legislature. The focus of the Democrats and special interest responses to those letters has been the Republican refusal to provide a two-thirds vote majority for issuing additional bonds (more spending).
The current facts are, as of June 30 :
1. The total general fund and highway bonded indebtedness was $416,130,000;
2. The authorized, but unissued, bonds were $220,400,000 (including $24 million for Land for Maine’s Future, $66 million for highways and transportation, $11 million for environmental cleanups, and $36 million for the university system); and
3. Maine’s current debt payment as a percent of revenues is 3.91 percent.
The most interesting fact is, that in order to balance the General Fund 2004-2005 budget, they are taking $45,657,616 cash from highway funds. The Democrat big-spenders have dipped into the sorely needed highway funds, and yet whine that we won’t accept a new bond package for highways and bridges.
This is contradictory fiscal nonsense.
The Democrats’ spending is out of control, particularly noting that this has led us to a shortage of $785 million for 2005-2007 government functions, plus now an additional $260 million needed for education funding.
Maine’s revenues are slowly increasing each year, but not nearly that much.
Voters should wake up and not blindly continue to vote for the irresponsible Democratic majority. The Republican-sponsored constitutional cap on spending is sorely needed.
Rep. Thomas F. Shields, Auburn
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