2015-10-22 / Opinion

Use Existing Revenue for Bridge Repairs

To the Editor:

Consider an $1,100 project to fix up a house.

Plan A: You can spend $60 out of budget for 10 years and borrow the other $50 over 10 years. The interest on that $50 a year will cost about $20 a year. Part of your project requires new construction and more costs to maintain the new construction on an annual basis. The $50 you borrow comes from friends but you hope your spouse does not find out because your spouse does not like your friends. The whole project over 10 years will really end up costing closer to $2,000 with new annual costs going forward. By the way, that new construction for Plan A will bring in some new money. But most of it ends up out of state.

Plan B: You spend $80 out of budget each year to do the project with no borrowing. You decide to do this out of pocket over 14 years. No borrowing, no new construction, no risk taking with the spouse, no new costs.

Plan A is Rhode Works. The Governor's plan, which is like giving an addict more of what they are addicted to, or the state establishment more money to spend by using bonds!

Which would you choose? Plan B is the Morgan plan.

To the taxpayers of Rhode Island: Want to improve the infrastructure and get rid of cronyism? Want the state to be back in the hands of taxpayers and not out-of-state influence? Want money to stay in this state? Choose Plan B.

Antone C. Viveiros, Chairman
Sakonnet Bridge Opposition
Platform (STOP) Committee

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