Chicago Sun-Times columnist Ralph Martire says that the project warrants careful analysis before the state decides to sell-off a profit-making asset to reduce deficit.
"The Illinois Tollway...one of the most significant, and profitable assets...generated $630 million in operating revenue [and after all cost adjustment, left] a surplus of $145 million."
But "as for debt, Illinois is beyond overextended. The National Association of State Budget Officers considers state debt in excess of $1,200 per capita to be unmanageable. Illinois is now at almost twice the 'unmanageable' level, with over $2,000 in state debt per capita -- not including the $40 billion in unfunded pension obligations."
But the author argues that "using non-recurring, one-time revenue [such as selling the Tollway] to fund services helped create the mess Illinois is in today" and any such policy deserves "thoughtful consideration."
Read the full story: State shouldn't sell itself short on tollway
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