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11-11-2012, 08:34 PM
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Join Date: Apr 2005
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Originally Posted by Metzen View Post
Eh. Calgary has an even higher debt and higher per capita owing. Seems to be par for the course that the cities will try and spend there way out of the recession.

TLDR; city is not in financial trouble, it's par or slightly better when compared with other, similar, cities.
We're not in a recession here. We're in a boom here, with that established how bad will the city finances be when and if we actually are in a recession here?

Theres no excuse whatsoever to accrue significant civic debt in the middle of boomtimes. This is the gravy, not the leantimes. Normal thinking govts(Ok I'm stretching oxymoron here I realize) realize that boomtimes are the time to be saving some cash on the side for leantimes. Not spending it DURING a boom like drunken sailors.

Meanwhile my Property tax is announced to shoot up yet another 100bucks. This without even the arena being funded. This is top of several hundred bucks increases in Property taxes in recent years off a normal bungalow. This on top of astronomical increases in price of real estate, utilities etc.

Good thing we're in a boom. If it stops the city and a lot of dwelllars are in real trouble.

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