Monday, December 29, 2008

The budget deficit will force the American states to sell the beaches and parks.

Some U.S. states in connection with the budget deficit will sell into private hands or lease infrastructure such as toll roads, parks, airports, golf courses and beaches, said on Saturday agency Associated Press.
According to the agency, the budget deficit recorded in 44 states, selling of public property, local authorities will be able to get liquidity, the acute shortage of which may, in certain scenarios lead to higher taxes.
For example, the government of Minnesota, the budget deficit which amounts to 5.27 billion dollars, will sell International Airport Minneapolis-Saint Paul, obtained for a 2.5 billion, and the state lottery, for which the authorities hoped to get another half a billion.
New York Governor David Paterson (David Paterson) in turn has ordered to create a special commission to examine the possibility of renting such facilities as Teppan-Zee Bridge north of New York, golf courses, beaches and toll roads.
Experts believe that such objects of public property are attractive to private investors, as they are highly "material", that is not actually exposed to a recession. At the same time, some experts feared that the sale of such facilities had a negative impact on the welfare of the population, as well as private owners may not care about that in the pursuit of profit.
It reminds the agency, several American states, even before the financial crisis passed, some objects of public property into private hands. For example, Indiana has earned in 2006, 2.6 billion dollars, passing for 75 years, the toll road lease the Australian and Spanish companies. Similarly, earned 3.5 billion of Chicago in Illinois.

No comments: