State bonding bill a good investment

The state should borrow, just as students do, to fund long-term projects.

Regarding the Feb. 7 column by Josh Villa, “Bonding proposal wastes tax dollars,” I would ask the author to ask himself the following: YouâÄôre a student, are you not?

Think of Gov. Mark DaytonâÄôs bonding proposal in the same way that you and your peers think of a college education.

Most students donâÄôt currently have the money to pay for their education, so they undertake long-term debt in order to finance an education that they believe to be a smart investment in their future.

To be sure, with interest rates so low and contractors willing to make surprisingly low bids in order to secure work for their companies, now is the time to be making smart investments in projects that will benefit communities across the state for decades to come âÄî much in the same way college students believe their own borrowing and investing will pay off.

ThatâÄôs the logic behind the governorâÄôs proposal: to make investments that are needed and to make them at a time when the cost for doing so is as low as itâÄôs ever going to be.

I wonâÄôt go into the long history of stimulus spending in order to help economies in trouble right themselves.

I wonâÄôt discuss the many results that reveal that the actions taken by President Barack Obama and the federal government over the past two years have stabilized the national economy and set it on a good track to recovery.

Rather, IâÄôll just suggest that most students already believe strongly in the efficacy of bonding to fund long-term investment because of the way they are undertaking a very similar strategy of borrowing and investing themselves. And you know what? ItâÄôs a pretty smart move.

 

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