Bond measures & Election results & Post-election 21 Nov 2006 09:36 am
Infrastructure bonds a drop in the bucket
According to a November 9 Los Angeles Times article, the line of competitors is already forming for funds available under the $42.7 billion in infrastructure bonds passed by voters on Election Day.
Other post-election articles feature quotes very similar to this one from the president of the Silicon Valley Leadership Group, Carl Guardino: “For California employers and the economy, this election was like Christmas. Almost every package we hoped for was under the tree.”
What will be lost in all of the celebration and shoulder-jostling is that the funds approved are a drop in the bucket. According to the article, the governor’s office estimates that at least $500 billion will be needed over the next 20 years to accommodate the expected 30% growth in California’s population.