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June 10, 2014

"Highway (trust fund) robbery"

This should stop.

This is a classic Washington crisis by the numbers. Congress sets up a “trust fund” — in this case, the Highway Trust Fund — and depletes it by spending the cash on projects that have nothing to do with highways. When there’s no money left, taxes must be raised. . . . 

If he gets the money, there’s no assurance he will spend it on tumbling bridges and crumbling highways. This White House has been spending the money intended for bridges and highways on niceties, such as bike paths, sidewalks, hiking trails and landscaping. Billions more go to high-speed rail, trolleys and other expensive mass-transit projects.

Comments

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Eric

Our cumbling infrastructure!

Cheesetrader

Gah - why does everything Obama touch end up in a hundred billion tax hike proposal?

We need to have a law that NO ONE shall be in charge of expenditures and/or budgeting w/o private sector accounting experience

Larry

When politicians and governments use words they don't really mean what those words mean in non-governmental circles. The words "trust fund" when politicians use them mean something like - a big pot of money for me to spend so my dumb*ss constituents will re-elect me. When someone outside government uses the words "trust fund" it means the funds will be held in trust. And if the person looking after the trust fund spends it on something besides the purpose set out in the trust, he will go to the hoosegow.

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