Soren Dayton over The Next Right is notes that under Gov. Mitch Daniels’ leadership, Indiana reported a $1.3 billion surplus.
Why isn’t Indiana feeling the same budget crisis that we have in Ohio? There are a number of reasons, but one which stands out is that Daniels leased out the state’s turnpike for 75 years for $3.8 billion. Daniels came to Ohio to discuss how successful the plan was, as Ken Blackwell was advocating the leasing of Ohio’s turnpike. At the time, Daniels noted the state receives roughly $500,000/day in interest payments.
It was being proposed in Ohio exactly at the right time, before the economy slumped and the bond market crashed. Oops.