Some thoughts worth considering before city folk vote on the “Vibrant Denver” bond
By Michael Whitcomb | Guest Commentary, Rocky Mountain Voice
The Denver Mayor and City Council are pushing the borrowing of $950 million—not including interest costs of up to $1 billion over the life of the loan—for a total cost approaching $2 billion. I and other interested residents are urging Denver not to take on any new debt, including this proposed bond issue, at this time. Here are a few reasons why.
Before creating a $250 million budget deficit, the Mayor and Council had already cut services to taxpaying citizens while continuing to overspend. Now, faced with this deficit, further services and operations will be reduced. With this kind of undisciplined spending and lack of accountability, what prevents further budget problems—or a perpetual upward spiral of tax and fee increa...