Friday, March 31, 2017
TPPF offers timely reminder on local debt
"The rich rules over the poor,
And the borrower is servant to the lender."
[Author's Note: This is yet another, problem that will NEVER get addressed until you abolish taxpayer funded lobbying.]
The legislature continues to ignore the problem (to appease the taxpayer funded lobbyists), the voters continue to approve the bonds, and the numbers continue to get worse:
Bottom Line: Texas has obvious macroeconomic storms on the horizon. The first is the property tax system, and the second is local government debt (there are a couple others, but they're more manageable at the moment). Don't be surprised when this bites us in the backside....