The CRC and the clowns shilling for it suffered another horrific blow today with the publication of yet another in the series of expose's calling their figuring into question since those pushing the hardest for this multi-billion dollar waste can't do it by telling the truth.
So, we have two articles discussing this today; one located on the Oregonian web site, the other on the democratian web site.
The problem here is that the Oregonian article proves that the C-Trans Executive Director is either a liar or incompetent.
The anxiety over the CRC's debt structure are only magnified if traffic projections -- and toll revenue -- fail to meet predictions.
The CRC has forecast that traffic at the Columbia River will grow 1.3 percent per year from 2005 to 2030, from 135,000 to 184,000 vehicles per day.
And taking it a step further:
Most notably, (Washington State Treasurer Jim) McIntire is not comfortable with the escalating debt service the CRC would pay during the 30-year life of the bonds.That's right, kids... a quarter of a billion dollars in interests payments. for a year. And now the idiots trying to ram this thing down our throats have had to admit to a strategy of jacking up the tolls 2.5% per year to pay for this.
Under the CRC's initial plan, annual debt payments would soar from $17.7 million in 2016 to a peak of $222.5 million at the end of the bond's lifespan.
Haven't heard about that one, eh?
And then, we go back a few weeks to this crock from the Executive Director of C-Trans: