Aftermath of today's City Hall money talk . . .
Conclusion . . .
INCAPABLE OF CONTROLLING SPENDING ON PET PROJECTS: KANSAS CITY'S BUDGET CONTINUES TO GROW AS THE LOCAL LEVEL OF DEBT ALSO RISES!!!
As usual, deficit spending, rampant borrowing and ongoing structural imbalances define this City Hall document that is now TOTALLY dependent on an upcoming tax increase bond issue.
Here's the damage:
Fox4: Kansas City leaders looking to strike budget balance between public safety and other pressing needs
KMBC: KCMO Budget Public Hearings
KSHB: It is a 4 percent increase from last year's budget.
City Hall: Open Data Wherein Locals Can Download The Budget Directly
Moreover . . .
Council members will travel to three community locations for public hearings on the budget. Scheduled budget hearings are:
Saturday, February 18, 2017
10 a.m. – 12 p.m.
Mohart Multipurpose Center
3200 Wayne Ave.
Saturday, February 25, 2017
10 a.m. – 12 p.m.
Woodneath Library
8900 NE Flintlock Rd.
Saturday, March 4, 2017
10 a.m. – 12 p.m.
Southeast Community Center
4201 E. 63rd St.
#########
Developing . . .
This is why voting NO in April is the only thing that will give these people a moment to sort out KANSAS CITY'S priorities.
ReplyDeletekc priorities = streetcar
ReplyDeleteReally Tony? How much is the city "in debt" when they're not even allowed by law to run a deficit?
ReplyDeleteYour little lies are cute and all but people see you for the bottom-feeding scumbag deceiver you are.
Get out more and you'll see.
@8:36pm
ReplyDeleteTalk about getting out more!
The city's in debt because it has borrowed many tens of millions of dollars by issuing bonds of one kind or another.
Just like an individual goes into debt by buying a house with a mortgage.
A person needs to keep up the payments or the bank takes back the house.
The city needs to pay back the bondholders and has to either raise revenue (taxes) to do so, or re-direct the money from other funds (like the general fund that pays for basic services), or borrow some more to pay off previously issued bonds.
Cities, counties, and even countries (see Greece) can go bankrupt if the ratios get too far out of balance.
Lots of tax breaks and subsidies, all of which decrease public revenue, coupled with debt, which requires more revenue to service it, is an unwise combination.
8:36 is Dumb,dumb,dumb!
ReplyDeleteThe trouble with Troy's math is that he can only back it up to his employeess. 8:46 smacks down all those fake numbers.
ReplyDeleteTOP PHOTO
ReplyDeleteAfter KCPD acquired ShotSpotter technology, KCFD was sold on the new FlameSpotter, whereby a 2-man crew sits on high ground and points in the direction of fire outbreaks!!!
8:36 a city can underfund it's pension fund for years essentially borrowing from it's employees retirement. The budget might be legally balanced because the pension fund is separate. But just like Detroit and now Chicago it will eventually doom a city. The problem is journalists all got Ds in econ 51 so they can't understand the concept.
ReplyDelete