Two things are certain when Scott Walker's numbers are wrong: He'll be on high side, and the error play to his advantage.
* I've pointed out in two recent posts here and here that while Walker repeatedly claims that the deal he struck with Foxconn will produce a company investment of $10 billion, the real number is $9 billion - - and that disappearing billion makes the $3.74 billion state and local subsidies to be made available to Foxconn much more valuable.
The best explanation for the billion-dollar-bungle is provided by the Wisconsin State Journal in a single sentence at the end of a 31-paragraph story - -
Here's another example:
* Remember when Walker refused to take $810 in available federal funds to build an Amtrak like between Milwaukee and Madison, along with stations and other improvements?
While his refusal played to his suburban base anti-urban talk radio, Walker said the state couldn't afford $7.5 million in estimated annual operating costs.
What Walker left out of the equation was the impact of increased ticket revenue from new riders that would have trimmed the operating costs as well as availabilty of federal funds which the state had said would cut the $7.5 annual operating costs by 80-90%, as the Journal Sentinel reported.
saved didn't save became even more painfully ridiculous when you understand that when Walker rejected the federal funding he lost millions of dollars in funding for improvements to the Milwaukee train shed and other improvements on the Hiawatha line to Chicago.
Urban Milwaukee nicely tracks FUBAR $11 million which Walker's imperiousness added to the state taxpayer's share of the new Milwaukee train shed and passenger boarding facilities which could have been had for exactly zero state dollars.
Not to mention the additional $50 million state taxpayers lost in legal costs and train equipment the state forfeited to Talgo, the train manufacturer whose factory in Milwaukee had to close after the state broke its contract with Talgo in the wake of Walker playing Governor-Who-fought-the-feds-and-lost.
* I've pointed out in two recent posts here and here that while Walker repeatedly claims that the deal he struck with Foxconn will produce a company investment of $10 billion, the real number is $9 billion - - and that disappearing billion makes the $3.74 billion state and local subsidies to be made available to Foxconn much more valuable.
The best explanation for the billion-dollar-bungle is provided by the Wisconsin State Journal in a single sentence at the end of a 31-paragraph story - -
Though Walker and [Foxconn founder Terry] Gou agreed previously on a $10 billion investment by Foxconn, the contract only requires the company to invest $9 billion in the state to be eligible for tax credits.- - though I see nothing definitive about the discrepancy from WEDC, or from Walker, and I suspect he will stick with the $10 billion figure because that round number sounds more impressive to a Governor-Look-What-I-Did.
Here's another example:
* Remember when Walker refused to take $810 in available federal funds to build an Amtrak like between Milwaukee and Madison, along with stations and other improvements?
While his refusal played to his suburban base anti-urban talk radio, Walker said the state couldn't afford $7.5 million in estimated annual operating costs.
What Walker left out of the equation was the impact of increased ticket revenue from new riders that would have trimmed the operating costs as well as availabilty of federal funds which the state had said would cut the $7.5 annual operating costs by 80-90%, as the Journal Sentinel reported.
The Doyle administration projected that Milwaukee-to-Madison service would have cost $16.5 million a year to operate. Fares would have covered $8.9 million, with another $110,000 from food service revenue. That would have left $7.5 million for taxpayers to pick up, but state officials have said they could have used existing federal aid to cover 80% to 90%, reducing the state share to no more than $1.5 million.And Walker's effort to look like Governor-Look-at-what I-
Urban Milwaukee nicely tracks FUBAR $11 million which Walker's imperiousness added to the state taxpayer's share of the new Milwaukee train shed and passenger boarding facilities which could have been had for exactly zero state dollars.
Not to mention the additional $50 million state taxpayers lost in legal costs and train equipment the state forfeited to Talgo, the train manufacturer whose factory in Milwaukee had to close after the state broke its contract with Talgo in the wake of Walker playing Governor-Who-fought-the-feds-and-lost.
from The Political Environment http://ift.tt/2Azeoqp
Breaking News: Scott Walker's numbers games; the legend grows - News Paper
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