All Politics Are Local
Well, in this case that is exactly right. This November, many of you will find Bond Financing decisions on your voting ballot. Think long and hard before you vote ‘yes’. Bonds are a favorite trick of pols. They are like mortgages for government. Borrow a little, pay a lot back over the next 30 years. The best part for politicians, they will be long gone and it will be someone else writing the check. Take this San Diego school board for example. They borrowed $164M. By the time the loan is paid back, they will have paid over $1.1B. You read that right. $1B in payments for a $164M loan. My guess, that loan is for bloated pensions and benefits.
We have a spending problem.