Wolf appears to have abandoned fundamental principles that underlie our system of governance, rule of law, and free market economy. First, the Greenway is a state road subject to review and oversight by state utility regulators, making interference in rate-setting decisions by a federal representative unwarranted. Wolf may have forgotten that the agreement between the Commonwealth and the Greenway operator is a contractual one and cannot be amended by legislation, only through negotiation between the two parties. Even if the General Assembly attempted to undo the contract through legislative action, it is highly doubtful that the courts would allow this to occur, given that the legal sanctity of contracts is a crucial underpinning of our free market economy.
[...]
Also misguided is Congressman Wolf’s suggestion that the Commonwealth expropriate the Dulles Greenway using its eminent domain authority. A state takeover of a road financed, built, and operated by a private company is, frankly, an idea more suited to Hugo Chavez’s Venezuela than it is to modern America. Hopefully, Congressman Wolf will re-evaluate his position.
Frank Wolf as Hugo Chavez? Obviously, I'm not a big Frank Wolf fan, but I'm not sure I'd go THAT far! :) Apparently, though, that's what Leonard Gilroy of the Reason Foundation ("a nonprofit think tank advancing free minds and free markets") believes. I wonder what Wolf's "Goldwater/Reagan Republican" opponent, Vern McKinley, thinks about all this.
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Actually as per the attached link, we stake our claim to having used the Hugo Chavez analogy back on October 17th.....
http://mckinleyforcongress.com/PressRelease_101707.html
The Dulles Greenway project is burdened with about $900 million of debt, despite construction costs of less than half that. The partners that run the project, including Macquarie Bank and affiliates, pay themselves from the proceeds of new debt. Unfortunately, the commuters must pay the interest. As long as the debt grows uncontrollably, the interest expenses will always be high enough to justify toll hikes. But someone has to cut off the flow of debt. This is hardly a "free market" at work. This is an Australian investment bank fleecing the residents of Northern Virginia.
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