In the March 2016 primary election, NC residents will be asked to vote for or against a proposal to borrow 2 billion dollars.
Is this loan truly necessary? It is important to note that the loan request is not for funding of transportation nor k-12 education projects. The $2 billion will go into the “Connect NC” fund, a committee that is chaired by a whole host of politicians. From there, 66% will be divvied out to the NC college systems, hundreds of millions of dollars will go to parks, zoos, agricultural “research,” and other political pet projects across NC (view the “Connect NC” bond appropriation chart at this link).
What does Caldwell County get out of this bond deal? The answer is: absolutely nothing. The debt legislation shows $5.6 million appropriated to Caldwell Community College and Technical Institute upon passage of the bond; however, a review of the appropriation chart from “Connect NC” informs us that the money is actually earmarked for Watauga’s CCC&TI campus, not Caldwell’s. Caldwell County would receive $0 of the bond’s line of credit.
A bond is not free money, it’s debt with heavy interest that is left to the next generation to pay without their consent. If an item is important enough then it should be budgeted and our elected officials held accountable for the spending of NC tax dollars. NC households have to prioritize their finances rather than acquire large debts for every need or want. Legislators should learn to do the same.
Don’t fall for the gimmicks! We keep hearing from the pro-bond campaign employees that this $2 billion debt being proposed “will not require a tax increase” in order to pay it off. That claim is purely a marketing gimmick. The politicians of today have no control over the actions of the next set of legislators. The politicians who are promoting this bond today are not the ones who, themselves, will be paying it off.
It is the taxpayers of North Carolina who will be forced to pay the $2 billion, whether it be by a tax increase or by taking money away from other future priorities in order to pay for the pet projects of today.
Many of those who will be forced to pay for this loan are not of voting age and therefore have no voice in the decision to adopt the debt in their name. If these projects truly have merit then they should be budgeted, so that those who want them are paying for them today, not irresponsibly forcing others to pay the debt and interest for the items that this set of politicians desires right now.
For these reasons I urge you to show up on March 15 and vote AGAINST the bond debt proposal. Check out www.AgainstTheBond.com for more information and like them on Facebook for updates. Make your pledge to vote AGAINST at this link: www.AgainstTheBond.com/Petition.