Friday, June 6, 2008
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Food and gas prices are up and still limbing, stock market is down, jobless rate is highest since 1986, home values are down significantly, and with them are tax revenues, a national recession, local hiring freezes, and tax increases contemplated, and City officials decide to take on MILLIONS in new debt to build a new gym. How does THAT makes any financial sense at all ? We just took on 13 million in new debt to get the County to take the water and sewer dept and we want to add MILLIONS more in debt as we slide into the beginning of a recession? That sounds like a recipe for disaster, and possible bankruptcy. Have City officials LOST their minds ? HOW is this financially responsible in ANY way, shape, or form? Are we willing to get in debt over our heads so that the Mayor can have his legacy plaque? Best can have HIS vanity massaged with a theater? Garcia can have his "money is no object" structure that WE will have to pay on for decades? Using this mountain of proposed debt as a means to look at annexation again, with ALL its shortcomings, to satisfy Youngs need for HIS legacy project? Dotsons legacy will be as a singular voice of reason and financial responsibilty in a sea of financial lunacy and personal vanities and agendas.
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