Wednesday, May 26, 2010

"For every $1 million in debt [Greensboro] avoids taking on, it will save $88,000 a year."

"Why not cut city debt?

While council members were dishing out their list of programs they didn't want to see cut Tuesday, Councilman Danny Thompson pressed a different issue altogether.

Why doesn't the city take on less debt next year?

Was it justifiable for Greensboro and Guilford County's elders
to promise themselves millions of current economic stimulus
for future generations to pay for?

The city staff is recommending that the council approved $75 million worth of bond projects in the next two years...

Does the city really need to do some of these projects "if these bonds have been sitting around for a decade and five councils have come and gone and they have just set there?" Thompson asked.

City Finance Director Rick Lusk laid it out in dollars: For every $1 million in debt the city avoids taking on, it will save $88,000 a year.

Did the most prosperous generation of parents
in Greensboro and Guilford County's history
promise themselves discretionary municipal benefits
their children won’t have enough money to pay for?

...This City Council hasn't even had any public debate about which projects on the list should move forward right now. It seems doubtful they would want to have an open discussion about what should get cut."

What could happen if a generation of underemployed, underpaid
educated and indebted young adults
become disillusioned by their elders’ financial mismanagement
and seek to identify and punish those responsible?

Amanda Lehmert
Greensboro News and Record

Why would some of one generation
want to covertly confiscate another’s wealth?
George Hartzman

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