Poochigian on debt
question:
In the last 10 years the county has borrowed hundreds of millions of dollars to fund its pension system and build the juvenile justice campus. Do you think the county has too much debt?answer:
The issue of debt and unfunded liabilities is a daunting problem, and the level and growth of such debt is enormously damaging. While areas with healthier, more diversified local economies and reliable revenue streams may be in better position to withstand economic downturns, we are not. This makes it most important to exercise fiscally prudent approaches to the expenditure of our taxpayers’ hard-earned money. The fact that just a few years ago, our county had little long-term debt must not go without notice. This is not to criticize decision makers, but our predicament was avoidable, and prudent policies going forward, painful as they may be in the short-run, can restore our fiscal stability.
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