Here comes some more! The Federal Government money tree keeps raining down greenbacks.
If you didn’t think $1.9 Billion from the American Rescue Plan Act (ARPA) was enough for the State of Oklahoma, the Biden Administration is now releasing additional Capital Project funds. Oklahoma’s take is $167,683,747.
The U.S. Treasury Department indicates these funds are for infrastructure and internet connectivity projects, which are also eligible items for the ARPA money. These borrowed dollars are driving our national debt up to nearly $30 Trillion— making the financial road ahead for our country even more perilous.
My hope for Oklahoma is that our leaders make $2 Billion the new minimum level for reserve funds. We will need a significant cushion when the so-called financial chickens come home to roost.
Oklahoma’s Coffers currently are flushed with cash thanks to the wise fiscal restraint of state leaders. The pressure to spend, however, will soon descend on the State Capitol as thousands of applications pour in to qualify for ARPA and Capital Project funds.
I don’t envy the task of Legislative leaders pouring through those documents, but I trust they have the strength to only approve transformative projects that will fix roads, provide internet access and create high-paying jobs for all Oklahomans.