Reforming entitlements best way to save them
Re: “Lessons from ’94: It’s D-Day against the national debt,” Jan. 5
Sen. Tom Coburn’s, R-Okla., excellent piece makes many arguments that are all valid and correct. However, there is one vital piece of information he neglected to mention, which can be of enormous use to Republicans and their supporters nationwide.
Coburn forgot to say that reforming entitlements is the best way to save them. Rep. Paul Ryan, R-Wis., and other conservatives believe there is a role for the social safety net in our republic, but the way to make sure benefits exist for the truly needy and deserving is to reform the system. This is what Ryan means by “prosperity” rather than “austerity.”
We need to reform entitlements sooner rather than later — before vulnerable people get hurt. This is the best answer to people who say that “reform” is another word for “destroy.” The truth is quite the opposite.
Ryan M. Budd
Kennebunkport, Maine
City officials are good stewards of D.C.’s finances
Re: “Gray should take tax increases off the table,” local editorial, Jan. 4
Your editorial contains an absurd statement based on a misunderstanding of the District’s finances. The purpose of the bond issue was to make it possible for the District to continue making critical long-term investments in its infrastructure, not “to keep the city’s checks from bouncing.” In fact, for the past 14 years, because of the mayor’s and city council’s responsible financial management, there has never been a danger of default on our obligations.
In fiscal 2010, we refinanced some bonds at favorable interest rates and extended the maturity date on others. This allowed the District to continue to finance its Capital Improvements Program, including schools modernization, and remain under its self-imposed 12 percent debt limit.
The District did not resort to making interest-only payments on its debt. The city will make principal payments of over $175 million in fiscal 2011 and each of the next four years, in addition to the interest payments on its debt.
As for “surreptitious,” the terms of the bond issue you refer to were not only discussed with the mayor and city council in advance of the sale, but were also the subject of a public hearing of the council at which we testified.
Natwar M. Gandhi
Chief financial officer, District of Columbia
Editor’s note: The Examiner stands by its editorial.
Supervisors, not MWAA, should set toll rates
Re: “Legislation could restrict Dulles toll hikes,” Jan. 2
Del. Jim LeMunyon’s proposal empowering Fairfax and Loudoun County supervisors to approve fare increases for the Dulles Toll Road is good public policy that respects our principles and recognizes accountability to voters and taxpayers.
The Metropolitan Washington Airports Authority increased the toll again effective January 1st, and is expecting revenues to grow by 11 percent. But revenue elasticity and traffic congestion should govern decisions on toll rates. Use has dropped 4.4 percent since MWAA raised tolls last year. We expect more drivers now will use our already crowded freeways to avoid the fees. The trade-off for higher tolls ideally is faster delivery of new traffic solutions.
Supervisors are responsible for our community’s quality of life and are clearly accountable to the public whether or not the General Assembly passes HB 1539 or not. They should be entrusted with power matching their responsibility.
Will Radle
Franconia
