Why did "POLITICALLY RED" Indiana sell their highways and tolls to foreign countries?

Question

Does America own anything anymore? We can't even own and run our highways and tolls? What is next?

http://www.infowars.com/articles/us/foolish_plan_sell_american_toll_roads.htm

It's an 80 year lease thats as good as selling them, in my book

Answer 1

Truckers have been screaming about this for months. I'm glad someone else knows about it now. Residents and interested parties went as far as to file a lawsuit to stop it, but they obviously lost. Too bad. I guess I'll be driving my big, dangerous truck on the smaller highways and going through every town to keep from paying the higher tolls.

Answer 2

Big deal. Other nations probably own the municipal bonds that built your local elementary school. There is some evidence that, under appropriate circumstances, a private firm can run a toll road as well if not better than the state. For example, the Pennsylvania Turnpike is owned by a quasi-private corporation: it's their property. They pay the state a certain amount for their lease, and I believe that their board of directors serves at the pleasure of the state governor. However, it's still pretty private, even at that.

The toll roads in Indiana weren't sold, but leased for long periods of time. The Chicago Skyway was similarly leased, and the same may happen with other roads. The leases are written such that the roads must be kept open, maintained, repaired quickly, and the tolls must be kept reasonable. Otherwise, the state gets the road back. Under any circumstances, the state still has title to the road.

It's even better that foreigners are investing in these, because they're taking the financial risk--and they're also paying us substantial fees for the privilege. The investment is enormous--how many bulldozers do you own--and so only multi-national companies can afford it.

I'm fairly certain that US banks and companies (insurance companies, usually) invest in public works overseas, too.

Answer 3

This came out of the Orange County bond fiasco in the late 80s here in California. The County went bust and their bond rating went to junk. So that new freeways could be built, they agreed to let a private organization manage the roads built and charge tolls on them, in exchange for putting up the bonds.

It should be noted they are projecting to go bust (the entity running the roads) in 2010 due to lack of ridership.

Answer 4

I proportion your concern. curiously that the yankee Tax payer won't be able to locate sufficient procedures for the Republican possession to garner out national treasure, assuming there is something left after 7 years of the Bush “administration”. I placed administration is fees through fact prepared thievery is fairly no longer wisely referred via the term, “administration”. it relatively is greater wisely stated as…prepared robbery. concerning toll roads, i got here upon years in the past that they are by no ability paid off. often some (nicely related) business enterprise or family individuals) fronts the loan, possibly OPM, and purely through fact the tolls are approximately to pay off the loan, yet another loan is taken against the money cow. The “investor” then spends this money as they chosen. feels like a scam to me. concerning remote places investment, maximum of it has left the greenback through Republican fleecing and incompetence and investment money are fleeing to the Euro. perchance we are able to do away with the Republican party earlier our complete u . s . a . is bought out from decrease than us. i'm relatively bored with Republican supporters (no one with a strategies) admitting failure and on the comparable time saying some thing like, "nicely confident, they're undesirable yet all politicians are the comparable". no longer SO! I by no ability concept i'd see the day that a Democrat would be defined as by some ability the salvation of our u . s . a . yet i think the Republicans are soooo undesirable they make Democrats sound stable! i understand they're initiating to look rather stable to me.

Answer 5

Ahh...maybe you should read your "credible" source. The article clearly states that Indiana is "leasing" the roads...not selling them. And, it isn't to "foreign countries"...it is to companies.

Much like the federal government attempted to do with "management" of the ports that created such a furor from the Dem's.

It is called a global economy.

And, if I were you, I would get used to it.

Answer 6

It makes perfect sense. Smaller government, let private enterprise make a profit off of it. Government bad, business good.

Answer 7

Foreign money is just as good as US money, should they take less just because the buyer is from a different country?

Answer 8

Many Hoosiers are wondering about that, too.

Answer 9

I hope they're paying property tax.

Answer 10

Nope. Can't get your money back!