This is a printer-friendly version of an article from Zip06.com.

Deep Concern

I am writing to express my deep concern regarding our tri-town’s fiscal practices, particularly the trend of borrowing money to fund expenditures without considering the long-term consequences. It is troubling to witness a pattern where borrowing is utilized to finance immediate needs or desires, with little regard for the escalating costs and implications for future generations.

While borrowing can be a strategic tool for investment in critical infrastructure and essential services, its indiscriminate use without a clear repayment plan poses significant risks to our economic stability and prosperity. The practice of borrowing to cover expenditures and then resorting to tax increases to service the debt not only burdens current taxpayers but also undermines the financial security of future generations.

The actual cost of borrowing extends beyond the nominal interest payments, encompassing the opportunity cost of diverting resources away from productive investments. Moreover, excessive reliance on lending can lead to unsustainable debt levels, constraining fiscal flexibility and jeopardizing our ability to respond to unforeseen challenges or crises.

As responsible stewards of public finances, our town government must exercise prudence and accountability in its borrowing practices. This necessitates a comprehensive assessment of expenditure priorities, rigorous scrutiny of borrowing proposals, and a commitment to fiscal discipline that safeguards our towns’ long-term interests.

I urge our local government to exercise restraint in its borrowing activities, prioritize investments that yield sustainable returns, and pursue fiscal policies that promote intergenerational equity and prosperity. Do we really need $10 million athletic fields and $1.5 million for a new front door, and how much do we really need to spend to remediate mold? $5.8 million.

Douglas Gingrave

Deep River