When Dubya moved into the White House the budget was in surplus and the national debt was falling. Now there are record deficits and the debt has almost doubled.
The recent headlines in the local papers say that Luzerne County has a $16 million shortfall this year but buried in the fine print is the fact that they have already obligated $18 million from the latest bond issue to cover it. So the real deficit this year is $34 million for a budget of $200+ million. The last time I checked in November of last year Luzerne County was on the hook $419 million in principal and interest through 2026. So lets add the $93 million they borrowed earlier this year plus the $16 million they want now and the total is $528 million not counting interest to be paid back over the next 20 years. Remember that the county is also looking at building a new prison that will require that will require floating another bond that may be as much as $100 million. In the last few years whenever there was some left over bond money the commissioners always spent it on something else instead of saving it for a rainy day or just paying back the money.
Every budget the last few years has been a work of fiction.
County to request $16M loan
Skrepenak, Petrilla clash over county finances
Commissioners continue budget squabble
The more bonds you create the more "consulting" fees you can charge.
ReplyDeleteI feel pretty good in Northumberland County. We are only in hoc about 35 million. Our budgets have been in order.
No. but it does sound like Nancy Pelosi and Paul Kanjorski are. Obama wants to eliminate the tax breaks and replace with a complicated system that nets out to the federal government, not the taxpayer. They want universal healthcare. Where is that money going to come from? You should read the post here. http://sightsonpennsylvania.blogspot.com/ Bridges, infrastructure, road repair... The DCNR just sold leases on 74, 000 acres of land in Pennsylvania for $189 million. Are we going to see that money? Did we see the money from the casino's yet or was most of it put into the pork barrel and not the cookie jar?
ReplyDeleteAnd you blame George Bush. Luzerne County- Democrat Pennsylvania Democrat- toll I 80 lease the turnpike Democrat - improve healthcare in PA by more taxes- Democrat...
Do you really want to hand over more of your money than you already have? This is not about Repulican or Democrat. It is about accountability.
Off topic but nothing about the MOSES LCCC theft??? I'm wondering if Peter Moses is ralated to the Blue Cross of NEPA MOSES. I will have to assume yes as there is a strong closeness in looks.
ReplyDeleteI think its time for some law people to dig up the whole moses dirt. In my own personal opinion, I always though the BCNEPA moses was a criminal from WAYYYYYY back.
Thats is another company in NEPA that you have to know somebody to get anywhere. The loyal pee-ons get shafted in the ned.
The Moses tribe is all camel riding democrat scum!
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