Fire Tax only Delays Tough Decissions Needed Now
Original post made by John on Aug 9, 2012
When your local government gives away the store and knows it, people become concerned. I have yet to hear of a blanket prorated reduction in pay or pensions through the county so everyone shares the budget burden equally. To see this information about the 129 million in debt attracts my attention because it affects the entire county's ability to provide every day services. More importantly, to see the BOS sell bonds just for the fire district to make the pension payments is pretty scary. That's just like a homeowner charging on a credit card to pay their house payment. As time goes forward the district will eventually have to take more from its operating budget to feed the pensions resulting in fewer services. This does not appear to be anything to do with a firefighter issue; it's all about management and spending. The people have two choices. First they can keep digging in their bank accounts to pay for the overspending and charging or stop the spiraling debt by not providing more dollars to overspend with.
Just the between ECCFP & Con Fire there is 160,000,000.00 million dollars owed for firefighters pensions. Both of those districts have spent their reserves too. Doesn't this number concern the taxpayers? Something needs serious change and it's not making the public pay more just to delay the inevitable. Maybe it's time the unions rethink who they endorse before the pension fund collapses.
Read for yourself the bottomless pit that has been created by the BOS to float the debt to our children;
on Aug 9, 2012 at 8:47 am
What is really crazy is that the Fire District sells $129,000,000 million in bonds to make pension payments. The District will pay the bond holders over 4% interest and make payments to a fund that receives 2% income. Who makes investments like this? Now they that they have borrowed at four percent to get two percent back they need more of your tax money for the next brilliant move.
on Aug 11, 2012 at 11:28 am
WAKE UP people!!
Read it and protest - Oh, and guess what - Lehman Brothers helped structure it - doesn't that tell you something right there?