Should elected officials act in the best financial interests of their communities?

When spider webs unite, they can tie up a lion.

 

Ethiopian proverb

 

If the City of Greensboro’s January 2008 Major Budgetary and Economic Trends Report said:

 

In preparing a budget for the next fiscal year, it is important to be cognizant of the various economic trends, both current and projected, and their potential impact on both the community and organization.

 

Consumer spending, job growth (or the lack thereof), interest rate changes and changes in the local and state wide housing market,

all have the potential to affect the types and amounts of services demanded by the community and the community’s ability to pay for them.

 

Major Budgetary and Economic Trends

City of Greensboro

FY 2002 through FY 2006-2007

January 2008

\

Why would Greensboro’s City Council unanimously authorize the placement of 35% more debt on November, 2008’s ballot?

 

If Guilford County’s outstanding was $562,827,364, on June 30, 2008, should another 116%, or $676,930,000 more debt have been placed on November, 2008’s ballot?

 

The earth belongs to each of these generations

during its course, fully, and in their own right.

 

The 2d generation receives it clear

 of the debts and encumbrances of the 1st.

 

The 3d of the 2d and so on.

 

For if the 1st could charge it with a debt,

then the earth would belong to the dead and not the living generation.

 

Then no generation can contract debts

greater than may be paid during the course of its own existence.

 

From a letter by Thomas Jefferson to James Madison

 

If America's parents and children vote more than their children's children and grandchildren, how much debt should be authorized by who, to be paid for by whom for how long in the future?