Elias On Bonds
I've never considered syndicated columnist, Tom Elias, to be one of the big thinkers in the commentary business. Nonetheless, I always try to give credit where credit is due. I actually thought he brought up a good point in this commentary on how to deal with infrastructure improvements without relying on bonds.
Here's how: First, the politicians would have to pledge they would find that same $2.5 billion they say will be readily available each year for bond repayments and set it aside for construction. Do that, and they'd spend the $38 billion base amount of these bonds without paying a cent of interest.
Now why didn't I think of that? Actually, I suppose I have but never went so far as to explain it that way. Not good for someone like me, with a big mouth, that always votes NO on bond issues and urges others to do the same.