Oct 22, 2012
commented on The Stranger Election Control Board’s Endorsements For the November 6, 2012, General Election
I think the Stranger's position on 8221 is misinformed. The editor states that 8221 "would limit the amount of money the state can borrow for construction projects at a time when we need more construction projects to fix broken shit and boost the economy." As #61 points out, yes, it does reduce the debt limit (a percentage of state revenues), but it also changes the way that the state's revenue for this limit is calculated. The new limit is applied to the average of general state revenues for the previous six fiscal years instead of the current three year average. The intent of this is to create stability in the funding and execution of capital projects by providing increased borrowing capacity when interest rates are low and the workforce needs it most.
I think a "Yes" vote is really what the Stranger means to suggest.
P.S.: State Treasurer Jim McIntire (D) is a strong supporter of this resolution.