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[quote user="schlimm"]  Of course.  However,  one, I am not entirely certain bond issues for airports are totally covered by fees and two, the real issue is how the government spends money for transportation, not focusing on the revenue stream.  It is the rationing of resources that should concern us all.[/quote] Most airport construction and improvements bonds are issued as revenue bonds.  They are serviced from revenues generated by the facility users.  In the case of the airports, the revenues come from landing fees, hangar fees, vendors fees, etc.  If these fees are insufficient to service the bonds, the difference has to be made up by the guantor of the bonds, which in most cases is a local government or agency of a local government.  Sometimes help is available from the federal government through the airport improvement program. I looked at the financial statements for several of the large airports in Texas.  They cover their debt obligations with the revenues mentioned above.  In fact, several of them generate sufficient revenues from their activities to cover all of their costs and transfer a surplus to the sponsoring local government.  Some smaller airports do not generate sufficient revenues to service their debt and depend on transfers from the local government to make up the difference. As I have said before, how much the government spends on other modes of transport is irrelevant to how much it should spend on passenger rail.  Where is rail the best solution to a transport problem is the key question.
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