I'm not going far, just leaving Lancaster and building in Elma. A town that only spends what it has and has no debt.
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I'm not going far, just leaving Lancaster and building in Elma. A town that only spends what it has and has no debt.
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financing debt is never a good use of tax money.
Lancaster has $2.7 million in the budget for debt service, 8.5% of the total budget. Nearly 1 million in interest. Not the wisest use of tax money.
Just think if those millions were being used for repairs your town needs instead of for debt. 8.5% is a fair amount out of the budget.
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The US Should borrow a penny, the US has the power to coin money and set the value there of
Willful ignorance is the downfall of every major empire in history.
"Political power grows out of the barrel of a gun." - Mao, 1938
Some repairs if needed need to be repaired. if you have to borrow you really have no choice. It's when you borrow for items that are really not not needed while ignoring items that are needed.
Towns should budget scheduled maintenance. Basically set aside funds ear marked for specific things. I'm pretty sure there is a good idea how longs roads last based on traffic including bridges, sidewalks, sewers, infrastructure items including equipment towns use.
That is what I mean when I say things should be ran like a business. Running something like a business doesn't mean running it as if profit is to be made.
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You need to explain why surpluses and reserves can save money in the long run. Most people would understand why a reserve was being saved if it was earmarked specifically for a purpose.
I bet even someone like FMD would say "You know that isn't a bad way to do that" if the practice was explained correctly.
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