Kinder Calls Nixon Bonding Plan "Another Bailout"

Lieutenant Governor Peter Kinder has come out staunchly against Gov. Jay Nixon's proposed bonding initiative, a plan designed to help finance capital projects around the state.

Nixon's bond proposal is seen as a way to pursue most of the construction projects he cut or withheld from the 2010 budget he signed last week.

"Our nation is facing the greatest economic recession since the Great Depression. The governor’s bonding plan is nothing more than another government bailout that will put our state in debt for nearly a quarter of a century," Kinder said in a statement. "The 2010 balanced budget that was passed by the legislature took into account all the realities of the current recession. The key focus of our past legislative session was job creation, and our budget reflected that priority. This bonding initiative is merely a debt plan that will fail to put any Missourians back to work in the near future. The risk of failure is too great," he added.

"I strongly urge the governor to utilize the one time funds available in the state's bank account and fund the construction projects that legislators authorized just a few months ago. That is a plan that will truly make a difference for hardworking Missourians," Kinder added.

The Kansas City Star's Jason Noble notes that while House Speaker Ron Richard also issued a statement critical of the bonding initiative Tuesday, he supported a similar plan which passed the House earlier this year.