Resolving Portland’s $5 Billion Yoke of Debt

The Fall 2008 Reason Report notes, the Chicago City Council has “unanimously approved a deal with a Canadian-American consortium to privatize Midway Airport.” The 99-year lease deal, pending approval of the FAA and Transportation Security Administration, “is expected to add more than $1 billion to the city’s coffers after covering the remainder of its Midway debt.” If the Port of Portland would play nice, a similar deal regarding Portland International Airport could help resolve the city of Portland’s $5.125 billion debt problem — which is a yoke around the neck of We the People. According to the local BoJack blog, each city residents’ share of that debt is near $9,000… and growing.

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Posted by at 06:00 | Posted in Measure 37 | 7 Comments |Email This Post Email This Post |Print This Post Print This Post
  • Fred

    Kurt, the Port of Portland owns PDX, not the City of Portland. See ORS 778.

  • Portland Liberal

    No comment,,nothing to see here, shut up, it aint so, who cares, my people are in control and Bush should be indicted.

  • billy

    That would merely let Portland waste another 5 billion.

    Running out of money seems to be the only thing that stops Portland’s spending.

  • Martha

    Unfortunately, I think the only thing that is going to inspire fiscal responsibility in our government is going to be when they run out of money and they’re credit is so bad they wont be able to borrow enough to keep services running. The Fed is already starting to lend directly to states to keep them out of bankruptcy temporarily. That said, how many measures passed by the vote of the people that will increase state and city costs? Sound fiscal policy is the basis of a stable and prosperous nation, NOT debt based willy-nilly free-for-all nannism.

  • Crawdude

    Our first step in fixing our economy should be to ban all firearms!

    Then we should bring back the ” Fairness Doctrine “!

    We should raise the taxes on the top 50% of wage earners!

    Increase corporate taxes (except on junky American automobile companies, we should give them 75 billion to stay afloat, for now).

    We should install liberal supreme court judges.

    We should increase the social security taxes!

    We should make every illegal alien a citizen thus allowing them to recieve the max social security payment when they retire, unlike most life long Americans.

    All this will cost hundreds of billion of dollars and that should fix the economy, shouldn’t it?

  • Bono

    Portland Airport and the City of Portland could use the help.

    Both need an influx of private entrepenuership.

    • Crawdude

      They should lobby Obama for some bail out cash!

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