In The News: Capital

"They always pass these authorizations with a lot of fanfare as if they are going to spend the money immediately, but a lot of these bond bills are over five or ten years," Widmer said. "There is the issue of giving false expectations that they'll be spent in the near term." Widmer said the level of authorized borrowing, while unusual, doesn't pose a fiscal risk to the state in part because of a self-imposed cap on the amount of bonds the state can issue in a single year.

Michael Widmer, president of the Massachusetts Taxpayers Foundation, said use of more than $75 million a year would be ill-advised.

Budget watchdog Michael Widmer, president of the Massachusetts Taxpayers Foundation, also blasted the administration's plan.

"This is one of the most irresponsible proposals I have seen seriously considered by the Legislature in my 16 years," said Widmer, whose organization is backed by business. "We are just heading off a cliff, Thelma and Louise, with a smile on our face."

Widmer called for a gas-tax increase and new tolls to help the Turnpike Authority meet the terms of its Big Dig-related debts.

Michael Widmer, president of the Massachusetts Taxpayers Foundation, a business-backed budget watchdog group, said a gas tax increase and tolls on Interstate 93 heading into Boston are needed and inevitable because of the Turnpike's financial problems, even if lawmakers don't acknowledge it yet.

According to the Patrick administration, the T's financial situation is also on its radar. But yesterday, Michael Widmer, president of the Massachusetts Taxpayers Association, said he would be concerned if the state helped ease the T's debt. He instead suggested the state should increase the gas tax and the agencies should hike fares to boost revenue.

 

"One of greatest risks here of the Commonwealth doing this is that the T is next," said Widmer, who is against the proposed Turnpike deal. "Not that the T doesn't need help, but putting the Commonwealth at risk is not the way to do it."

Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, said the administration's proposal does not solve the Turnpike Authority's underlying financial problems and could lead to huge losses for the state.

"There are all sorts of things happening that no one ever expected in the larger credit and financial markets," he said. "I don't know how we can guarantee the state is not going to be on the hook for this."

But more is needed, said Michael Widmer, president of the Massachusetts Taxpayers Foundation. It simply avoids the nasty reality by borrowing deeper and longer into future, he said.

"They are not addressing the situation, they are just shifting billions of dollars of debt to future generations," Widmer said.

"Nobody wants to be the one to increase taxes," he said. "But without taxes, it means the next generation will face a deep hole."

"'We're seeing a plethora of authorizations last year and this year,' said Michael Widmer, president of the business-backed Massachusetts Taxpayers Foundation, which studies state finances closely.

"'There's enormous competition,' Widmer said, adding that a legislative authorization was 'no guarantee' that projects would be funded anytime soon."