Editorial: Navajo $500M bond plan may be 'Raw Deal'

"Some Navajo leaders are likening President Joe Shirley Jr.�s proposal to issue $500 million in revenue bonds to FDR�s �New Deal� plan of the 1930s. Roosevelt�s �New Deal� used government funds and initiatives to put people to work improving infrastructure, creating public art and documenting life in the United States during the Depression.

It all sounds good, but how long will that $500 million last? Will the building of large commercial facilities in small Navajo communities ensure that companies such as Wal-Mart, Home Depot, etc., will locate on the reservation? What if there simply isn�t enough customer base to sustain such big box stores? What will be the impact if the commercial facilities lay empty two years after they are built?"

Get the Story:
Editorial: Is �New Deal� a �Raw Deal?� (The Farmington Daily Times 3/12)

Relevant Links:
Navajo Nation - http://www.navajo.org

Related Stories:
Navajo Nation $500M in bonds touted as New Deal (3/10)
Navajo Nation president promotes economic plans (10/22)
Navajo president promises Wal-Mart, Home Depot (10/16)
Navajo Nation seeks $500M to finance development (09/04)