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Featured Listener Comments Section: Contents List |
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Listener: Pratt on Texas
Category: Lubbock City Politics
Date: 28 Oct 2009
Time: 09:39:44 -0700
Remote Name: 69.149.122.255
Listener and government finance
expert Dick Hudgens puts it this way: “The average debt per person of Lubbock
residents is $4,566.35…”
How does Lubbock compare to other similar cities? Hudgens provided those numbers
for us as well: Amarillo has about $600 of debt per person, Odessa about $2000,
Abilene is at about $1500 per person, and Midland, like Odessa, about $2000 of
debt resident. All of which have less than half of the Lubbock debt load per
person.
Notice the size of the current bond election, or how much the spenders wanted to
use to build a showplace performing arts center. If you think better streets and
facilities would improve the quality of life in Lubbock, I ask you to think
about this.
Lubbock is already, without the new debt coming, spending close to seventy-five
million dollars each and every year paying off our collective credit cards known
as bond debt. Think about that more.
If we retired all debt, Lubbock could spend between $75 and $90 million ($90
million being the amount we are about to be paying annually with coming debt)
each year on new facilities and services without increasing spending. You
so-called progressives need to understand that this could be a new major,
world-class facility of some type each and every year!
But, we can’t. Why? We’ve not been responsible and we are slaves to our common
debt. Maybe it’s time we have a grown-up discussion about what’s right for our
future.
Robert Pratt
Pratt on Texas
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