Si on C; declining D
Dear Editor:The two ballot issues, C and D, can be thought of as C-ash and D-ebt. C would retain overcharged taxes while D borrows against future overcharges.With C, at issue is that the uses of the funds have been suggested, not designated. Though human resources need the money badly, we have no assurance where our money will go.In addition, an unintended consequence of C passing might be a chronic or focused overcharging of state taxes.With D the $2.1 billion borrowed for the standard 20 years at 6.25 percent interest costs us $1.6 billion in loan costs, for a total outlay of $3.7 billion paid to debt service.If we need the money badly enough to warrant voting for C, I should think that D in effect forfeits all but $500 million of that and gives it to the lenders.Using fiscal responsibility and patience, by saving for and metering out available funds, the need to use D for a loan becomes unnecessary.Because I think a Democratic-majority Legislature will continue, I’ll be voting yes on C and no on D.Thank you for your attention.John HoffmannCarbondale
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