Last week I talked about Todd Rokita's disingenuous pursuit of legislative districts that are not drawn by "politicians." I got great feedback, but I haven't heard from Rokita's camp in response to my challenge for him to prove his "concept map" creates more competitive districts than currently exist.
Today, I do a two-for-one and talk about Governor Daniel's decision to lease the toll road and Indianapolis Mayor Greg Ballard's decision to lease Indianapolis parking meter collections and operations.
Probably the greatest failing of democracy is its ineptitude at stopping politicians from mortgaging our children's future. It's easier to push expenses into the 2030s then make us square up now because the people who will ultimately pay the tab are too enthralled with Handy Manny and his screwdriver to notice they're the ones being screwed. Buying now and making people who can't vote pay later is a tried and true political gambit.
But what if, instead of pushing expenses into the future, you could bring money you were going to earn...back from the future like Marty and Doc Brown?
Oh, the political brilliance of this idea is so profound, you'll be amazed to know the Governor and Mayor Ballard were probably inspired to adopt it by a J.G. Wentworth commercial.
Here's a typical script, if you haven't seen one of those:
A J.G. Wentworth success story. Felicia and the annuity.
Felicia: A few years ago, I inherited an annuity from my grandfather. I started receiving monthly payments from his insurance company. Then everything seemed to happen at once.
Narrator: Felicia's employer moved to another state, and she was left unemployed.
Felicia: Your money starts to go pretty fast when there's no cash coming in.
Narrator: J.G. Wentworth knows that a big change in life's circumstances can change how you view your annuity.
Felicia: I heard about J.G. Wentworth through TV ads.
Narrator: If you have an annuity that is no longer serving your needs, and you need cash now, call J.G. Wentworth. You'll get a free appraisal and have all your questions answered. Don't wait. The sooner you call, the faster you'll have your money.
The premise of annuity conversion is pretty simple, and politically-speaking, breath-takingly shrewd. Say you have an asset that will create revenue for you into the indefinite future, like a toll road or a ton of parking meters. You could wait and get the money year to year, but if you're a Governor or Mayor, wouldn't it be more fun to get all the money for the next 10 to 90 years or so right now? All you have to do is enter into a long-term lease with a company that will give you a big lump sum now because, unlike you, they'll be around after eight years still making money hand over first.
If you do this, not only will you have more money for roads or billionaire sports owner prop-ups, this tactic is also a handy middle finger to the guy or gal who unseats you. That's money they won't get! Heh heh.
You think I'm wrong? Tell me this script wouldn't have worked as well as the original:
A J.G. Wentworth success story. Mitch and the toll road.
Mitch: Back in 2004, I inherited a state in pretty good fiscal shape. I started receiving monthly payments from the toll road. Then everything seemed to happen at once.
Narrator: Mitch's Indiana employers moved to other states, and Mitch was left with growing numbers of unemployed.
Mitch: Your money starts to go pretty fast when there's no cash coming in.
Narrator: J.G. Wentworth knows that a big change in life's circumstances can change how you view your toll road revenues.
Mitch: I heard about J.G. Wentworth through TV ads.
Narrator: If you own a toll road that is no longer serving your needs, and you need cash now, call J.G. Wentworth. You'll get a free long-term lease appraisal and have all your questions answered. Don't wait. The sooner you call, the faster you'll have your money from an international conglomerate.
I rest my case.
Also, you notice how Mayor Ballard won't tell us how many years the contract for parking services with be? He'll just say that it will be long enough that the company can recover its investment. I promise you it will extend beyond his term.
Why should this concern you? Right after the toll road transferred hands, the rates went up big time. Expect the same with parking downtown, friends.....because (in their minds)...it's "their money and they want it now!"
