Vail Daily letter: Are we that naive? |

Vail Daily letter: Are we that naive?

Vail Daily
Vail, CO Colorado

“TARP funds” are now a household phrase – a lot of promises but no resulting stimuli for the taxpaying middle class (now known as the “lower class”). In the stead of tax amelio-ration and increased employ-ment in the workplace, we have: selective bailouts for those insti-tutions on the “most favored” list of recipients, e.g., General Motors, Goldman Sachs, AIG, Bank of America (and the list goes on); bonus payouts by obliv-ious congressmen to incompe-tent executives; and rampant unemployment.

In our own little corner of this country, we have RED funds that are being promised by corporate developers with an agenda to promote profits for shareholders. Query: Will there be a stimulus for the taxpaying residents and businesses of Eagle? In view of the lessons now learned in Wash-ington, will we still hope for the “change” that RED (the develop-er for the proposed Eagle River Station complex) promises, e.g., increased sales tax revenues, more old-town ambiance, less traffic congestion and more employment for the construction industry? Does our naivete know no bounds?

Has our financial ship finally come in where we may now real-ize more prosperous times, or has RED merely thrown us a life preserver tied to an anchor? Where even blue-chip securities on the exchanges have tanked in value, and China holding almost a trillion dollars of U.S. obliga-tions, can we even hope to mar-ket the bonds to fund the ERS infrastructure? Does the pru-dence of the American investor know no limits?

For Eagle to buy into the ven-ture offered by RED, it must have faith where fact is lacking, it must have hope where history has failed to educate, and beyond all that, it must be assured that our children will be able to pay the “freight” of the indebtedness they inherit!

– Fredric Butler

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