Clip-n-save time again, folks.
The Uptown paper of record is finally getting around to covering Mecklenburg County’s planned debt bomb explosion, the one we told you about months ago. And the spin is fast and furious:
Commissioners chairman Jennifer Roberts said Monday she wants to hear more from the county staff about the proposed debt per capita targets, though she added the county has been given high marks for its financial management.
“We know that we have a lot of debt because we’re a growing county,” Roberts said. “But we also know we are keeping careful track (of spending.) I’m interested to hear about what this will mean.”
Sooo then, if we grow more slowly in the future we can have less debt? No, we’d still have to pay the debt service we incur today. And if we explode the percentage of the county budget devoted to debt service by almost 40 percent — from the current 16 percent target to 22 percent — how are we going to afford that debt burden with less growth?
By raising taxes. Or more precisely, letting the current property re-valuation goose property tax bills by 10 to 20 percent and playing dumb about what is going on. What does this mean?
One step closer to Detroit-on-the-Catawba. I don’t think that is the answer Jennifer was looking to get.
