Local school board can't do the math

Old news but a good day to talk about it -- if you're not heavy in the stock market.

Hello?  A half a billion dollars of bonds for school buildings?

Apparently, too many people on the Guilford County school board missed the news about collapsing credit markets.

You are broke, the taxpayers are broke and the financial houses of China and Japan no longer see the point of continuing to underwrite our ongoing lifestyles.

The Guilford County Board of Commission should not agree to hand uninformed voters the bond knife yet one more time to cut their throats with.  As leaders, they need to learn to say, "NO."

Citizens are going to have to learn to live with a generation of young people that will be taught basic critical thinking and communication skills in old buildings.  Debtors don't make the rules.  Nobody wants our county and municipal debt...not at anything close to current rates anyway.  Sorry.

BTW: Local and State governments are going to have to reserve what bond options they have left just to raise money to cover government employee retirement checks they are underwater on.

Comments

[E.C. Huey]

But our illustrious county board went and did it anyway. So now in fact it is up to the voters.

God help us.

[Jim Capo]

Ugh. Yeah. Done in by our County Board once more. Two things worth looking into:

1) What is the projected interest rate someone crazy enough to loan us money is going to ask for? If voters hear rumors of a number like 10-15%, that might be enough to kill the idea.

2) What bond payments are coming off the books such that tax dollars currently being pledged for payment could be applied to new bonds without a tax increase?

P.S. Thanks for running.

What's up with the PayPal donate button but no paypal option?

[E.C. Huey]

Hey, I appreciate the kudos.

I'm still refining my site, and it's what I could find at the time. You can still make a donation (I welcome any amount)