PREVIEW: Investigation by GoLocalTV Looks at How Much RI Candidates Spend in Campaign Funds
Tuesday, September 25, 2012
The candidates may argue about who is more committed to Rhode Island, but according to an investigation by GoLocalTV, more than 50% of the dollars spent support businesses in Connecticut, Florida, Virginia and Washington, DC.
From printing, to web development, to graphic design-millions of dollars have bypassed Rhode Island-based companies for politically-tied companies in DC, San Francisco, and Chicago.
Coming Thursday: 2nd Congressional Race – Jim Langevin v. Mike Riley
Coming Friday: 1st Congressional Race – David Cicilline v. Brendan Doherty and reaction from Rhode Island.
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Comments:
Gary Arnold
10:28am on Tuesday, September 25, 2012
Yes, the incumbents have done nothing for RI, all need to go. We desperately need new ideas no matter what party they come from. It's all about the individuals and what they are willing to do to help RI and the current elected are NOT doing anything for RI, time to go.
Stephanie Powell
11:47am on Tuesday, September 25, 2012
Interesting angle on campaign spending. But there are THREE candidates in the 2nd Congressional Race. Please don't ignore Mr. Collins just because he has little ad money to spend either here or elsewhere.
James Jett
12:56am on Wednesday, September 26, 2012
NO STATE BAILOUT FOR 38Studios Bondholders!!!
ASK ANYONE RUNNING FOR THE GENERAL ASSEMBLY IF THEY WILL SUPPORT DEFAULTING ON THE 38 STUDIO BONDS. ONLY VOTE FOR THOSE THAT SUPPORT DEFAULTING!!!! THE GA WRITES THE BUDGET AND DECIDES IF THE BONDS ARE PAID BY THE STATE, THE STATE HAS NO LEGAL OBLIGATION TO PAY THESE BONDS. 112 MILLION WILL BE BETTER SPENT AT THE URI, RIC OR CCRI ON JOB SKILLS PROGRAMS RATHER THAN REIMBURSING A BUNCH OF POLITICAL INSIDERS FOR A FOOLISH INVESTMENT!
ALSO WATCH FOR THE GOVERNOR TRYING TO CONVERT THE BONDS FROM REVENUE BONDS TO GENERAL OBLIGATION BONDS- THE DIFFERENCE IS THE STATE IS REQUIRED TO PAY GENERAL OBLIGATION BONDS. HE WILL SAY IT IS FOR BETTER RATES, BUT REALLY IT IS TO ENSURE THE STATE HAS TO PAY HIS POLITICAL INSIDERS 100% ON THE BONDS WHICH ARE WORTHLESS AT THIS POINT!!!
NO MORE TAX PAYER BAILOUTS FOR THE 1%!!!!
From a WJAR:
The R.I. Economic Development Corporation sold $75 million worth of moral obligation bonds in 2010 to finance 38 Studios. They differ from the more familiar general obligation bonds because with moral obligation bonds a state only pledges that its governor will ask lawmakers to use taxpayer money to pay bondholders; with general obligation bonds, the state pledges its full faith and credit toward repayment.