Big F’ville roundabout project moves ahead despite regional sales tax uncertainty

The Ga. Highway 92/Hood Avenue/Jeff Davis Connector project in Fayetteville has been approved for local funding but its status on the list of possible regional transportation sales tax projects to be decided by voters in July 2012 is not looking good at this point.

Meantime, the project is proceeding, with 30 percent of the design work complete and negotiations underway for property needed to link the three roadways.

The Hwy. 92/Hood Avenue/Jeff Davis Connector project will essentially serve as the city’s northside connector. The $7.9 million project funded by SPLOST (Special Purpose Local Option Sales Tax) dollars was previously approved by the Fayette County Commission.

The project also survived the first round of cuts made to the large list of regional transportation sales tax projects in the 10-county Atlanta Regional Commission area, but disappeared from the most recent list unveiled last week.

Fayetteville City Manager Joe Morton said recently, with the design phase of the project approximately 30 percent complete, negotiations with affected commercial property owners is ongoing.

Morton said if the northside connector project reappears on the list throughout the regional elimination process and if voters approve the regional transportation sales tax in July 2012 the balance of the SPLOST funds already allocated locally could be used for other priority transportation projects in the county.

If the July 2012 referendum does pass, however, the project would likely be slowed by about a year given the lag time between now and the subsequent time required to begin obtaining sales tax revenues, said Morton.

“One way or the other we’re continuing to move forward,” Morton said of the project.

Even if the regional sales tax vote is successful, the northside connector project would be well into the design and right-of-way acquisition phases, Morton added.

Project plans call for moving the traffic signal on Ga. Highway 85 (North Glynn Street) from Hwy. 92 a short distance south to the intersection with Hood Avenue. West on Hood Avenue just a short distance from North Glynn would be the location of a roundabout that would funnel traffic northeast and northwest onto Hwy. 92.

Motorists at the new traffic signal at Hood Avenue would be able to continue eastward across the intersection on what is proposed to be an extension of Kathi Avenue that would, via another roundabout, link with North Jeff Davis.

jackyldo
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"If you build it they will drive"

I do remember seeing this in the movies once I think it was the Kevin Costner classic - "field of Roundabout"

One way or the other we will continue, we may not have funding, but we'll spend every penny we can in the meantime.

roundabout
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No Money?

That didn't stop developers and builders from building out five years in advance (no money)!

I'll bet those new Treasury Bonds authorized today are already sold!

The ones coming in November will have a line to buy them at a better intrerest rate!

We, and the TEAS, have decided we would rather sell Bonds at the expanse
of Medicare, Medicaid, and Social Security.

I have yet to hear the TEAS plan to produce jobs! They don't want infrastructure built!

Is there some advantage to them to have 10-15% unemployment---who now will NOT get unemployment compensation---you know the states aren't going to pay foor it?

lion
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Teas and economy

The Tea Party pushed and got over 2 trillion in spending cuts.

Dow Jones dropped 265 points on the news.

No jobs created.

No economic growth created.

Just cripple the American economy so President Obama might be defeated in 2012.

What a great bunch of patriots!!

Dondol
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Here you go Lion, take this and Chew on it!

Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts

July 21st, 2011

The first ever GAO(Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out. Ben Bernanke(pictured to the left), Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.

What was revealed in the audit was startling: $16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest. Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious — the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.

To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. The budget that is being debated so heavily in Congress and the Senate is “only” $3.5 trillion. Take all of the outrage and debate over the $1.5 trillion deficit into consideration, and swallow this Red pill: There was no debate about whether $16,000,000,000,000 would be given to failing banks and failing corporations around the world.

In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.

“This is a clear case of socialism for the rich and rugged, you’re-on-your-own individualism for everyone else.” – Bernie Sanders(I-VT)

When you have conservative Republican stalwarts like Jim DeMint(R-SC) and Ron Paul(R-TX) as well as self identified Democratic socialists like Bernie Sanders all fighting against the Federal Reserve, you know that it is no longer an issue of Right versus Left. When you have every single member of the Republican Party in Congress and progressive Congressmen like Dennis Kucinich sponsoring a bill to audit the Federal Reserve, you realize that the Federal Reserve is an entity onto itself, which has no oversight and no accountability.

Americans should be swelled with anger and outrage at the abysmal state of affairs when an unelected group of bankers can create money out of thin air and give it out to megabanks and supercorporations like Halloween candy. If the Federal Reserve and the bankers who control it believe that they can continue to devalue the savings of Americans and continue to destroy the US economy, they will have to face the realization that their trillion dollar printing presses can be stopped with five dollars worth of bullets.

The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

View the 266-page GAO audit of the Federal Reserve(July 21st, 2011): http://www.scribd.com/doc/60553686/GAO-Fed-Investigation

Source: http://www.gao.gov/products/GAO-11-696
FULL PDF on GAO server: http://www.gao.gov/new.items/d11696.pdf
Senator Sander’s Article: http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-6206...

roundabout
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Dondol: Observer

Are you trying to say that the USA loaned all this money to all these people out of taxpayer's money?

You know better.

The World Bank is involved and supports all countries as needed.

You will scare the hell out of these dumb red-nek TEAS!

PTC Observer
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Dondol - Excellent

post.

I would recommend you read.

"The Panic of 1907: Lessons Learned from the Market's Perfect Storm", Robert F. Bruner, & Sean D. Carr

The FED replaces J.P. Morgan in the panic of 2008, not with honor and wealth but with corruption and stealth. After Morgan saved the world banking system, Morgan was investigated by Congress, at Teddy's encouragement, to cover up their incompetence. Who then will investigate the FED and Congress in 2012?

Mike King
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lion

The 265 point drop was not due to the 2 trillion in spending cuts, I would offer that is was lost because the cuts amounted to half the cuts needed to demonstrate seriousness in dealing with an out of control debt spiral. Would you wager that the 265 points will not be recouped within two weeks? If so, I have a little pocket change you might pick up.

No jobs were created, but no private sector jobs were lost due to the cuts.

No economic growth was created, but then government can only facilitate economic growth which it hasn't bothered to do.

Obama's reelection? Do you really want an additional four years of failure?

lion
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King

I certainly want four more years for President Obama.

Have you paid any attention to the Republican alternatives? A very pathetic group all beholdened to the Tea Party wing of their party.

President Obama is needed to protect America from the neo-confederate Tea Party extremists.

dawgday
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4 More

The failure of Obama is less a failure of Obama than partisan politics. When the leader of the house makes statements to the effect of casting votes to see the President's policies fail rather than to see the country succeed, we have clearly put people in charge who have agendas other than what is best for the country (seems it happens at the local level as well). I will most likely not vote for Obama because the country can not afford another four years of ......this. But the Republicans had better put someone up who is palatable to Independents because the Tea Partiers/far right are leading us into yet more chaos.

Mike King
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lion

I would hate to know that I would have to rely on Obama to protect me from anything, but you are entitled to your view.

Any discussion on my wager proposal?

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