Vote AGAINST the $2 billion debt bond on Tuesday
A bond is not free money, it’s a debt left to future generations to pay without their consent. If an item is truly important, put it in the budget.
Vote AGAINST the Bond!
Debt = Taxes. The “Connect NC” bond is a political slush fund that will add $2 BILLION to our state’s debt.
Omnibus Spending Bill. If an item is truly important then it should be considered individually and budgeted by legislators, not borrowed against future generations.
No accountability, little scrutiny over expenditures.
Contains no transportation or k-12 education funding.
Political Piggy Bank. Large portions of the bond money (hundreds of millions of dollars) are not allocated to any specific project!
Legislators have stated that if the projects are important, they could be funded through traditional budgetary allocations within the same time period as bond funding would require!
Why do some legislators support spending by bond? A bond can seem like an appealing financing option to some legislators because it amounts to deferred taxation to future generations for the political spending sprees of today:
Don’t forget that bonds are historically followed by tax increases. This bond is no different, it would add over $100 million to North Carolina’s debt service every single year. That money is paid from the general fund by NC tax dollars: