A Sunday WaPost editorial laid waste to Gov. McDonnell’s (lack of a) transportation plan to solve Virginia’s $20 billion transportation problem.
Here’s the central paragraph from the Post editorial and here’s a link to the editorial. Makes good reading — spread it around.
As it is, a quick glance at Mr. McDonnell’s menu of proposed funding sources for transportation is a useful reminder that his plan — showcased to great effect during last fall’s gubernatorial campaign — is a non-starter. Begin with the $177 million annually that Mr. McDonnell (R) said would materialize in the form of revenue and taxes from offshore oil and gas drilling. President Obama has canceled those drilling rights. Even before that, chances that oil and revenue would flow anytime soon, or that Congress would allow Virginia to skim off royalties, were slim. Similarly, the $236 million annually that Mr. McDonnell said he would conjure from state revenue growth and from budget surpluses (remember those?), is nothing more than a pleasant daydream. Current and forecast sums from those sources is $0.00.