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."
Proverbs 22:7

[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....

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