A Comparison, If I May

Democratic-run County ...

Cuts in the overnight rate ripple out and affect the rates at which other loans are available. So, when the Galveston County Commissioners Court met Wednesday morning, Commissioner Ken Clark suggested the body give County Judge Jim Yarbrough the authority to make a deal to borrow $7 million -- after the Open Market Committee made its move later that day.

The commissioners approved the idea and it paid off. Yarbrough was able to lock in an interest rate of 2.81 percent.

The proceeds of the loan will be used for scheduled maintenance of the Texas City-La Marque levy system. The work had been planned for completion in 2012.

"But after (2005 hurricanes) Rita and Katrina, we decided to see how quickly we could try to get this work done," Yarbrough said.

With the money in hand, it should be complete in two years.

Now, the commissioners are looking at other infrastructure priorities to see what can be tackled while money's still cheap.

"Good finance would say when you've got money this cheap, get as much as you can for as long as you can," Yarbrough said.

Republican-run State ...

The projects in the Texas Department of Transportation's six-county Houston District were among $1.1 billion in road work statewide that had been scheduled for contracts but now are postponed.

The sum represents about a fourth of all TxDOT construction contracts set for fiscal 2008, which ends Aug. 31. The postponed Houston District projects represent 14 percent of those statewide.

...

"We're out of money. I don't know what else to tell them," TxDOT spokesman Chris Lippincott said. "We're spending the money that we have available, and we intend to use the projected cash flow that we have, but more of it in future years will go to debt service and maintenance."

Lippincott said the postponements stem from two causes: ongoing financial pressures and a contract planning error.

Back in 1990, Eleanor Tinsley was campaigning for Harris County County Commish against Jerry Eversole. She used to say how there was no difference between a Republican bridge and a Democratic bridge. Eversole would follow that up by saying the Republican bridge was under budget and on time, hence a difference.

What a different 18 years makes.