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Fiscal Policy &Virginia politics Richard Falknor on 12 Jun 2012 03:11 pm

Loudoun Metrorail: “Supervisors would…find better odds in Vegas.”

UPDATE JUNE 24! Loudoun Opt-Out declares “$600 Million Bonus If Loudoun Opts Out of Metro – Pay $0… Risk 0…” Click here.

Last evening a Washington Examiner editorial declared

“Metro — which already has a $13.5 billion maintenance and capital replacement backlog — still refuses to provide even basic ridership, revenue and operating cost projections. According to an April 12 memo to Loudoun County officials from consulting firm Desman Associates obtained by The Washington Examiner, ‘detailed daily boardings projections — which are critical to forecasting parking demand — [were] not available’ from either MWAA or WMATA. The only forecasts available were from 2004.

The lack of updated information should send shivers down the spines of Loudoun County supervisors, who must decide by July 4 whether to opt in or out of Phase 2. So should contingency plans to slash local payrolls currently being made by top federal contractors in the event that the federal sequestration goes into effect in January. Supervisors would likely find better odds in Vegas.”

As we pointed out in our Dulles Metrorail: Is Loudoun Losing Control of Its Future? the whole Dulles Rail scheme is one of the offspring of the Beltway GOP.

Think the Beltway GOP has learned fiscal prudence? 

RedState’s Erick Erickson asks today (click here) –

“Did you know that House Republicans are still defeating amendment after amendment to cut spending — even relatively small amounts?”

Editor-in-chief Erickson explains – –

“You probably didn’t realize this because, for some reason, no one is reporting it. So here are just a few of the amendments the House defeated last week. If you’re not happy with this record House Republicans are compiling this election year, let them know now!” (Underscoring Forum’s.)

Read more.

Note that Loudoun’s U. S. Representative Frank Wolf, one of the fathers of Dulles Rail, voted against six of these eight proposed cuts.

Heritage Action’s report card gives Mr. Wolf a rating of 54 %.  By way of  comparison, scroll down here to see Heritage Action’s top House performers.

Counter-intuitive: of those 20 members who scored 90% or more, fewer than half — arguably only nine — are Tea Party freshman.

A Bi-partisan Explosion in Government Spending?

Today Arthur Laffer and Stephen Moore (Wall Street Journal) reveal  in their “Obama’s Real Spending Record: There’s no way around the facts. Under Presidents Bush and Obama, government exploded as a share of the economy”- –

“Sadly for fiscal conservatives, the biggest surge in government spending came during the last two years of President George W. Bush’s eight years in office (2007-2008). A weakened Republican president dealing with a strident Democratic Congress, led by then-House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid, resulted in an orgy of spending.

Mr. Bush and Republicans in Congress capitulated to and even promoted each and every government bailout and populist redistribution canard put before them. It’s a long list, starting with the 2003 trillion-dollar Medicare prescription drug benefit and culminating with the actions taken to stem the 2008 financial meltdown—the $700 billion Troubled Asset Relief Program, the bailout of insurance giant AIG and government-sponsored lenders Fannie Mae and Freddie Mac, the ill-advised 2008 $600-per-person tax rebate, the stimulus add-ons to 2007’s housing and farm bills, etc.”

So much for the Bush “legacy.”

And this spending orgy undoubtedly played midwife to Dulles Metrorail.

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