“STAY THE COURSE”: In Davenport today, Culver touts I-JOBS project that plunges Scott County $94 million into debt

FOR IMMEDIATE RELEASE: Wednesday, October 06, 2010
Contact: Tim Albrecht (515) 276-2266

“STAY THE COURSE”: In Davenport today, Culver touts I-JOBS project that plunges Scott County $94 million into debt

Culver’s answer to job creation is the “stay the course,” building on his record of higher unemployment

(URBANDALE) – Today, Gov. Culver is scheduled to be in Davenport to tout a $9.5 million I-JOBS project.

However, the total share of actual I-JOBS debt Scott County is shackled with is more than $94 million.

“Unemployment has nearly doubled under Chet Culver, yet he continues to stay the course with his failed debt program,” said Branstad 2010 campaign manager Jeff Boeyink. “The truth about his massive bonding program is that it shackles Iowans with enormous debt over the next two decades. Terry Branstad is the proven, effective manager who will again return Iowa government to a pay-as-you-go basis, and stop incurring generational debt while running up the state’s unemployment rate.”

Here are the figures:

I-JOBs debt:              $1,700,000,000 (http://www.legis.state.ia.us/lsadocs/Fiscal_Topics/2011/FTMAT005.PDF)

Iowa Population:    3,007,856 (US Census Bureau, 2009:http://quickfacts.census.gov/qfd/states/19000.html)

Per person I-JOBs debt:  $565.18

Scott County Population:  166,650 (US Census Bureau, 2009:http://quickfacts.census.gov/qfd/states/19/19163.html)

$565.18 x 166,650 = $94,187,247 (more than $94 million over the next 23 years)

“Scott County residents’ share of the I-JOBS debt is approximately $94 million over the next 23 years. A high price to pay for a $9.5 million project,” concluded Boeyink.

For more information on the Branstad/Reynolds campaign, please visit www.GovernorBranstad2010.com.

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