Our or leaders on Crack?

Discussion in 'The Okie Corral' started by wjv, Feb 1, 2010.

  1. wjv

    wjv Zip It Stan Lee.. . .

    Likes Received:
    Jan 17, 2002
    Pacific NW
    No talking politics here. . .

    Talking about responsible leadership

    Thankfully I live on the Other side of the river, so I'm not in Portland. But we are seeing this insanity everywhere! At the city, County, State an Federal levels. . . Oregon just passed a huge tax increase on businesses because of budget shortfalls. . Most of the money from the tax increase will be funding public pensions. Now this. . .


    Another half-billion-plus in debt for the City of Portland

    In addition to the $12 million line of credit that the City of Portland's planning to sign up for this week for the Paulson stadium affair, they're borrowing $72.7 million in the next few days for water projects; $430 million over the next few months for more sewer projects; and $30 million sometime this spring for "urban renewal" noodling in the Lents neighborhood. That's $544.7 million.

    With a population currently sitting at about 586,500, we are talking about another $929 in debt for every man, woman, and child who lives in the city -- and if you count unfunded pension and retiree health care liabilities, the total city debt will balloon to well over $6 billion by this summer. Back in September 2007, when we first started studying the city's finances, it was about $2 billion less than that.