Thursday, June 4, 2009

Mad About Government Loans

Are you upset about corporate bailouts? Don't think Wall Street or automakers will pay back taxpayers? Concerned about the national debt?

Read this GAO report on how irrigated agriculture on the Westside of the Valley is progressing on repaying their interest free loans over the decades. Forget about barely paying back the principal, the interest subsidy undiscussed in the GAO report is by far the biggest expense.

One recurring criticism in the Wall Street and GM bailouts has been their employees generous pay and benefits. It sure would be nice for the Valley and all the struggling workers on the Westside if that was the reason the Westlands and San Luis water contractors couldn't pay.

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