While attributed to Everett Dirksen, the think tank dedicated to his career in Congress cannot verify that he actually said, "A billion here, a billion there, and pretty soon you're talking real money." No matter, it's still a great Twain-sian take on government spending. There is so much money sloshing around that people, especially elected officials, can't really comprehend it. The latest example is right here in the Bay Area where ABAG has approved putting a $10 $20 billion bond measure on the ballot for "affordable housing".
Mind you, our governor just spent unchallenged millions to barely pass a $6 billion bond measure for "affordable housing" across the state. The tally took a long time and garnered a 0.5% winning margin. So now we are to consider a 67% 333% bigger bond just for the nine counties in the Bay Area? The Daily Journal notes
The Association of Bay Area Governments approved the ballot measure Thursday, April 18, which would produce and maintain about 72,000 affordable units, according to documents from the Bay Area Housing Finance Authority.
San Mateo County would receive about $1 billion to $2 billion, depending on the final bond amount, with a minimum of 52% allocated for affordable housing production and 15% for preservation, per the Regional Housing Finance Act. The measure would effectively create a regional public lending institution bolstered by Bay Area property owners, who would pay roughly $19 per $100,000 of assessed property toward the fund.
One eagle-eyed Voice reader sent me an email stating
If this bond issue were to pass It would raise my property taxes. $500. No thank you, I'm voting no. Where will the water come from and how much will the water cost? And how much extra traffic on the streets and freeways will this cause? No thank you. And please don't tell me everyone's gonna take public transportation.
If you read through the rest of the DJ article all you see are politicians nibbling around the edges of the proposal. No one has the big picture in mind like our emailer. We are almost at the two-year anniversary of my post titled "State Auditor: Housing "requirement" numbers way off". Is anyone doing anything about fixing the illusory numbers? Not that I can see. They just go along like sheep thinking we need to build our way out of a manufactured "crisis".
Maybe we should just let a few billionaires build their California Forever city on ranch land out in Solano County and call it a day. As Calmatters.org notes, they can pay for the infrastructure, the housing and be the master developer. That would free up ABAG to, you know, worry about fixing the roads, the water system, the grid, the schools, etc. All that boring stuff.
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