Serving Bread

What it does: If passed, this proposition will approve the state to sell $19.9 billion in bonds for transportation purposes–highway safety, traffic reduction, port security, and air quality improvements. When it’s fully repaid (in 30 years), this bond would cost California taxpayers about $39 billion.

What the Pro people are saying: We have one of the most congested highways in the world. Our streets and highways are in need of repairs, and our air quality is one of the poorest. And with the recent developments in terrorism, we need to secure our ports. This bond will help the state to begin the program of constructions and repairs.

What the Con people are saying: Although transportation issues need to be a priority for the state, the amount of money that the state is selling is not fiscally responsible.

Bottom Line: I’m not a big fan of bonds. I think there are certain cases where selling a bond is an appropriate way of funding a policy or a program. However, I also know that transportation development and repair is important, especially in the state of California, and especially when we live in Los Angeles. There are many ways that the state already collects money for transportation purposes (one of them being every time you fill up on gas). In 1990, voters approved a $5 billion bond measure similar to this one. It took the state 16 years to use up all of that money. I’m not sure whether $20 billion (or eventually $40 billion) is the best way of addressing the need. As an Angelino, I know that most of this money will help me, but as a Californian, I wonder if it makes sense for friends in Eureka or Bishop to pay for something that may never do anything for them.