Re "Backers of vet bond issue are misleading" (Capitol & California, May 26): Dan Walters' superficial analysis of Proposition 41 misleads voters while accusing the proponents of misrepresentation.
Walters says the initiative will cost money while ignoring multiple studies, most recently by the Los Angeles Economic Roundtable, a business group, showing that housing homeless veterans saves $3 to $4 tax dollars for every dollar spent. His argument that Proposition 41 provides new debt is wrong. Voters already approved the bonds authorizing California to incur the debt. Proposition 41 allows debt already approved by voters to be spent for veterans and their families in need of housing, while preserving hundreds of millions of dollars for traditional veteran home loans.
Proposition 41 is smart and compassionate public policy applying existing bonds to urgent needs and saving taxpayers hundreds of millions of dollars. More importantly, it provides badly needed housing to the brave men and women who put themselves at risk to preserve our way of life.
-- Stephen Peck, Los Angeles