Hurting Economy Could Expand Privatization of Infrastructure
"Cash-strapped U.S. state and city governments are likely to sell or lease more highways, bridges, airports and other assets to investors desperate for stable returns after being frazzled by the credit crisis."
"The trend is set to pick up speed given worsening budget deficits in state capitals and city halls nationwide."
"The latest enthusiasm for at least partially privatizing infrastructure assets came on July 30 from New York Gov. David Paterson, who is trying to plug a budget deficit caused in part by lower tax revenue as Wall Street retrenches."
"'We're just looking at ways to be more efficient and that's why I used the term public-private partnerships -- trying to find some creative solutions,' Paterson said. 'The reason I'm avoiding taxes is because I think taxes are addictive.'"