28 August 2012
Public Debt
When we voters find bond issues on local or state ballots, the explanations never inform us what agency would issue the bond and at what rate of interest we would pay. Why is that? The financial difficulties of cities, counties and states often are attributed to the amount of debt service being paid from General Funds, but I do not remember reading about what really makes up the actual expenditures by bond in prospective budgets.
Good ideas behind many local initiatives that result in bond issues reveal no useful (to voters) details of the costs associated with those good ideas.
What if TARP of other federal stimulus funding could focus on reducing the debt service costs that consume local municipal or district budgets? Rather than spend so much on debt service, General Funds could maintain funding for municipal services than they can at this point. But, none of this information is available on line, to the extent that I can find. So, I will have to telephone local Controllers or Treasurers for such information. I wonder how difficult this will be.
I'll report back on this.
Good ideas behind many local initiatives that result in bond issues reveal no useful (to voters) details of the costs associated with those good ideas.
What if TARP of other federal stimulus funding could focus on reducing the debt service costs that consume local municipal or district budgets? Rather than spend so much on debt service, General Funds could maintain funding for municipal services than they can at this point. But, none of this information is available on line, to the extent that I can find. So, I will have to telephone local Controllers or Treasurers for such information. I wonder how difficult this will be.
I'll report back on this.
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