TKC BREAKING AND EXCLUSIVE NEWS!!! CITY HALL SHOCK: KANSAS CITY BOND RATING EARNS NEGATIVE OUTLOOK!!!
Behind the scenes at 12th & Oak there's an ongoing war waged by City Hall to control information about Kansas City's rapidly worsening financial situation. Thankfully, our blog community consistently BREAKS NEWS about the real world economic tragedy confronting taxpayers.
To wit . . .
FIRST AND FOREMOST ON TKC: MOODY'S ASSIGNS NEGATIVE OUTLOOK FOR NEW KANSAS CITY BOND RATING!!!
Remember that most local news outlets don't understand this stuff or enjoy tax breaks to keep this information buried.
Here at TKC, we believe this kind data should be exposed given that it impacts residents throughout the city as much as any other news item, doggie story or tragic vigil. Probably more so . . .
Accordingly, so that readers can check our work, we'll link and quote straight from the source despite the fact that the info remains buried by mainstream news. . .
Take a look:
Moody's Revises Kansas City's (MO) Outlook to Negative . . .
A horrific but accurate line of reasoning . . .
"The negative outlook reflects the growth of the city's pension obligation and, when coupled with the elevated debt burden, the increase of fixed costs outpacing revenue growth. Continued leveraging of the tax base or unabated expansion of the pension obligation will place downward pressure on the rating."
It gets worse, hidden in the presser is this passage that basically calls into question the TAX AND SPEND AGENDA of Mayor Sly's Administration . . .
Reason for the downgrade: "The risk of non-appropriation, the lack of pledged assets securing the debt, and the less essential nature of the projects financed."
Now let's explain a bit more about Kansas City on the precipice of financial oblivion . . .
Factors that Could Lead to a Downgrade
- Further leveraging of the city's tax base absent corresponding revenue increases
That means more borrowing . . . Very much like the GO BOND vote coming up.
- Continued growth of the city's unfunded pension liabilities
Of course 1st Responders deserve to be paid . . . But going forward, the reality is that there's no way to maintain the current pension system.
- Weak financial performance leading to a decline in reserves
The Trump Rally won't last forever . . . When hard financial times arise . . . KCMO is woefully unprepared thanks to the current leadership at City Hall.
And so . . .
The financial future of Kansas City continues to circle the toilet bowl of history as voters and taxpayers are encouraged to ignore news about dangerous City Hall fiscal policy and instead focus on pricey pet projects, social justice culture clashes and empty promises from elected leaders.
Developing . . .