For months I have been asking Matt Letourneau to get out from under his desk and confront the massive fiscal calamity he helped foist on Loudoun Taxpayers, that being METRO to Loudoun, the dreaded Silverline.
And this is what he comes up with, possibly one of the dumbest ideas to come down the pike in some time. Really, this is the nonsense the social engineers at The Council of Governments might dream up.
His idea is to finance the debt of a failing organization so as to kick the can down the road in a trade for points on billions of dollars. You gotta be kidding me. This is his solution? Exchanging points on debt so as to simply push the inevitable out 8 to 10 years.
His solution is to do exactly what the region has done since the late seventies, bail out WMATA without addressing or fixing the underlying and systemic problems. They want to provide them better terms on money by bonding their debt throwing this failing organization a lifeline with no linkage or terms that dictate the reform of WMATA.
These guys should be beating the reform issue like a rented mule, making every possible avenue directly linked to substantial reform designed towards making WMATA viable in the long run. Instead they float a plan that in no way forces WMATA and its various unions to restructure and reform themselves in exchange for financial assistance.
Let’s be straight as to what he wants to do. Borrow money to finance billions in debt without fixing the root causes that created the initial debt.
This is a bat shit stupid idea.
Matt Letourneau get back under your desk. Please.