You would think they would rethink their longstanding borrow-and-spend pattern after getting warned by the state that their reserves are getting too low. But this News and Record article suggests the city council is hell bent on proceeding with a proposed bond issue.
Borrowing bond money, of course, encourages the city to spend beyond its means; and greases the skids toward the perceived need for future tax increases.
Borrowing bond money is a deeply institutionalized part of our local politics both within the city of Greensboro and Guilford County.
Voters should reject the proposed bond issue at the polls– but of course, they likely will not.
Voters in Guilford have consistently voted down sales tax increases . Let’s hope they do the same to a bond issue.
As for the wisdom of the homogenous city council one could say:
Fools rush in where angels fear to tread.
Yes, we are dealing with fools, Fred. Crafty fools.