“Our local governments more than doubled their debt load in the last decade to more than $7500 in debt for every man, woman and child in the state (Texas).” says Susan Combs in a January 19, 2013 article for The Wall Street Journal. The article gives some great information, asks even better questions and provides some bi-partisan solutions for the average citizen. You can check it out at http://susancombs.com/media/susan-combs-debt-exces-even-lives-texas
We vote on bonds and other debt issues without knowing how it will effect the overall budget or even the debt load of the entity. We don’t know because it isn’t published. Why aren’t we asking? Why aren’t we making more noise? What else do we not know?
Personally, I believe this lack of information is one of the many factors that has many municipalities in real financial trouble over pensions. Cities are filing bankruptcy and their citizens are mad at the city council. How about being mad at all the people who don’t vote? Or, mad at the people who cast an uninformed vote?
What do you think?
leighyork 