Tuesday, August 04, 2009

09/10 Capital Budget: some thoughts

From the MRJs Jesse Buchanan on July 31:

Capital budgets are funded with bonds, and Councilor Tim White said the projects were being described as alleviating pressure on the operating budget, which is funded by money on hand.

"That's code word for moving from tax and spend to borrow and spend," he said. "That's what's gotten this country into so much trouble."

I hope we don't have to hear anymore of these comments about "alleviating pressure on the operating budget." I know our debt levels have been dropping for the past few years. But I'm not expecting the economy to turnaround anytime soon. In which case, the chickens will come home to roost.

I'm of the belief that we need to cut spending... not just shift it from the operating budget to the capital budget... as happens with the pensions when you see early retirements being bandied about as a "savings." In fact, while there's a spending reduction in the operating budget... there's also a spending increase in the pension fund. But that's one of those things you don't discuss in polite company.

Three months and counting...

Tim White

4 comments:

Breachway said...

You certainly have to think things are going to be tighter next year. I think you will see the housing market begin to decline again as the seasonal sales, as minimal as they were, drop off after Spring/Summer...and foreclosures still rising..more layoffs( my brother in law got a pink slip this past Friday after 12 yrs)..Do you think the state is going to have more money for us? are we going to already be paying higher taxes to fund healthcare and the deficit? teachers pay will be 4%-6% more....

Anonymous said...

"chicken's coming home to roost" is an expression reserved for black racists. (Rev. Wright, Maxine waters, etc.) Please avoid it here.

Anonymous said...

black racists??? have whites had a history of segregation? maybe affirmative action is not fair to the individual but slavery,segregation and prejudice were not fair to individuals and families and cultures. There is a difference and to ignore it is to be STUPID

Anonymous said...

Racism is colorless.
African blacks have enslaved other blacks. Eliminating racism should be a goal of every individual, every society. The Maxine Waters, Jesse Jackson, Rev. Wright crowd are living off the past instead of letting it become a sad part of our history and its abolition as inspiration for all. Instead they seek to divide not unite. They are modern day carpet baggers, enslaved by the past and enriched by its hateful legacy.