Wednesday, September 25, 2019

#TXLEGE: Gonzalez and Springer Collude Against Public

"Dishonest scales are an abomination to the Lord,
But a just weight is His delight."
Proverbs 11:1


So-called "water policy" is an ongoing act of larceny the state of Texas commits against its citizens.  You can read our full archive on the topic here.  Gonzalez and Springer continue this ignominious tradition.

[Note:  This one especially.]

As to the specifics of Prop. 2 this year, Texas Scorecard has details:


How it reads: “The constitutional amendment providing for the issuance of additional general obligation bonds by the Texas Water Development Board in an amount not to exceed $200 million to provide financial assistance for the development of certain projects in economically distressed areas.”
What it means: The Texas Water Development Board will be allowed to issue bonds, and therefore go into debt, in order to continue financing water supply, sewer service, and drainage projects in economically distressed areas.
TFR Stance: Oppose Proposition 2
Our Reasoning: State-subsidized debt serves as a disincentive to properly prioritizing spending and distorts market forces.
Aka. Crony Capitalism.

What makes Prop. 2 particularly galling is that the lege got their so-called "water infrastructure development bank" in 2013.  But it's never enough.  Six years later (aka. long enough for voters to forget), they're asking for another slush fund.

[Note: We wonder who's gonna finance the relevant debt.]

Furthermore, there's a dirty little secret to which the lege hopes you never get wise: The state of Texas has plenty of water to meet all of its residential and commercial needs.  The only reason Texas has anything remotely resembling a water "shortage" is because we subsidize growing cotton (a water intensive crop) in the panhandle (an arid climate).  If rural cotton farmers paid market rates for water, it would change the game.

But, of course, a lot of that cotton is grown in Drew Springer's Springer wants the rest of us to pay.

We don't know how Gonzalez et. al. are getting paid, although history would suggest approaching this question with the most cynical lens possible.

Bottom Line: Government (with its attendant friends and cronies) never satisfies its appetite for other people's money.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.