Saturday, November 17, 2007

Bonds, not Barry

“We write our bond issues generically"-Luzerne County Budget and Finance Chief Sam Diaz

After the pre-election lies about a balanced budget Commissioner Greg Skrepenak and placeholder Rose Tucker voted to borrow $93.5 million to finance this year's deficit and fund some projects on the wish list. That brings overall debt to roughly $419 million in principal and interest through 2026 according to the TL. That's up from $309 million this year. Debt service will rise from $10.5 million this year to $22.2 million in 2008 and how will they finance the resulting shortfall? Float a Bond!

This is starting to look like using a Visa cash advance to pay a MasterCard bill.

7 comments:

D.B. Echo said...

That's just nuts. They should be using Discover, because you get cash back.

Which reminds me, I'd better order my cash back rebate gift cards, 'cause that's what I'm giving out as presents this year.

Anonymous said...

Skrep and the rest of his Luzerne County Democratic Party buddies are a reason for us to start discussing eugenics.

Michelle said...

What's on the wishlist?

exiled in DC said...

G, you should have a contest for the "team" name of the new commissoners. Bond Botherwas classic and if only Petrilla was a dude. perhaps the fact that they are willing to lie the slick siblings would do, but I do not think anyone has every accused Skrep of being smooth.

We need a new nick name

Gort said...

Good question Michelle. $40 million of the bond issue is for "undefined capitol project."

Bill,

How about the Debt Duo or the Debit Cardmissioners?

Exiled in DC said...

you are a genius I like Both, i would go with the debt duo, becuase i like aliteration

Eddy, the Angry Republican said...

How about:

Petrilla's Fellas

Don't forget that this incompetent number cruncher is behind the shananigans too. Personally I think she castrated Skreppy. That's why he has no balls to do the right thing.