Viewpoint: Swails could learn a lot about fiscal policy from her constituentsIn Marsha Swails’ March 3 viewpoint “Bonding bill will add jobs, improve infrastructure” the state representative said she believes Laurie Blank’s Feb. 24 viewpoint demonstrates “a lack of understanding about” the bonding bill.
By: Andrea Kieffer, Viewpoint writer, Woodbury Bulletin
In Marsha Swails’ March 3 viewpoint “Bonding bill will add jobs, improve infrastructure” the state representative said she believes Laurie Blank’s Feb. 24 viewpoint demonstrates “a lack of understanding about” the bonding bill. I test Swails’ notion that she is more intelligent than her constituents on fiscal policy. When one examines the facts she presents, one might question her own understanding of basic economic principles.
In her viewpoint Swails explains that more debt is “affordable and responsible.” The interest payments are so low that the taxpayers are getting a “bigger bang for their buck.” Dare we ask how or when we pay off the principal? She says the bonding bill is the “mortgage on the state’s house.” Most of us have a mortgage and can relate to this, but how many of us have multiple mortgages on our house and think one more will solve our financial problems?
Remember the $6.6 billion transportation bill Swails was “proud” to support in 2008? It was another one of those “mortgages,” and it was supposed to create jobs. It did not work. Real unemployment rates remain high today.
Overtaxing working Minnesotans and increasing debt to cover our bloated state budget are not the answers to creating sustainable jobs in Minnesota or stabilizing our economy. Arthur Laffer identified four “prosperity killers” - inflationary money, rising taxes, protectionism, and government control. Our current DFL-dominated state Legislature supports all: inflation starts when there is too much debt (our dollar is devalued), the debt will have to be paid off with increasing taxes, protectionism has hindered alternative energy options and mining in the Iron Range (despite new technologies in both sectors), and our state has some of the most restrictive laws when it comes to business regulation.
In May, this session will end, and campaign season will begin. This is when you will be fully introduced to me. I will continue to show that Minnesota can do better under fresh leadership.
Andrea Kieffer is a Woodbury resident and the Republican-endorsed candidate for state House of Representatives District 56B.