Friday, July 17, 2009

Dan Proft and the Illinois Borrowing Program

Dan Proft, now a candidate for Illinois Governor, got his political start as editor of the conservative daily at Northwestern University. His take on Illinois' plan to borrow to pay its bills is interesting:

"[T]he governor and General Assembly might as well have just passed a tax increase, rather than hide behind their borrowing measure. The $3.5 billion the state will now borrow to pay the bills will lead to roughly $700 million in interest payments. And who’s on the hook for that? You, the Illinois taxpayer, that’s who. And be forewarned, Gov. Quinn still hopes to pass his 50% income-tax increase in six months, conveniently after Illinois legislators have survived any primary election opposition."

You can read the entire press release the Proft for Governor website.


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