Good post Smyna Res. I am not against some expenditures on our state's highway and transit systems. However the massive and totality of the increase is just outrageous with no end in sight. They put in a "sunset" clause that has no chance of happening. There is a $689 million provision for Towne Center for example. If the need for this expenditure is legitimate the residents of that town (Kennesaw I
believe) should vote for a bond hearing and make the improvements themselves. Local municipalities with local control over expenditures should be the ones making the decision what to do and how to do it . Cost overruns never stop and without local oversight (via their own local money at stake) it will turn into a giant mess. I used to live in Boston and the "Big Dig" was a prime example of how to burn money. I see it time and time again, and the tax payers are always the one holding the bag.

Nice comments Chris, as I said to Smyna Res above, local governments can control this and keep costs in line via local municipal bonds. People's faith in government spending grows weaker and weaker the further it goes away from where they live. The levels of abuse and corruption rise in dramatic fashion the further your money goes away from your wallet. I trust the people I know in my town to make the right decisions because I know them. A guy with a vested interest in the town he resides is less likely to steal money from people he wants to do business with in the future when his reputation on the line. In contrast, there are countless stories of how our money is virtually stolen and wasted when state and federal contracts are on the line. Think about the Atlanta airport for example. I am glad you wrote what you did, but I do not think the decline in home values is linked to transportation. Most of it comes from a government infusion of free money to people who were unqualified to buy homes, putting upward pressure on the market, driving up prices. What comes up, must come down.

Erik, I'm not entirely sure what you mean by "government infusion of free money", but if I understand you correctly, then it's worth remembering that, until they were placed into conservatorship in September of 2008, Fannie and Freddie were private organizations, traded on the New York Stock Exchange. They've since been de-listed, but if you want to take a chance, you can still by shares of Freddie Mac over-the-counter for about 29 cents per share, give or take.

The money they blew on bad loans and mortgage-backed securities was not government money, but money raised by selling stock and issuing bonds, just like any other publicly-traded company. In addition, their holdings made up a minority of the securities and loans that went bad when the financial crisis hit. Their mismanagement and misbehavior contributed to the financial crisis, but they had a lot of help from the largest commercial banks along with the six largest investment banks that were the dominant players driving sub-prime lending--much of which went to middle and upper income households.

With regard to Atlanta home prices, none of this explains why we're doing significantly worse in that and so many other areas than other states and cities throughout the country.

I appreciate your post and the conversation.