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Advisor

this is criminal

They borrowed money for schools but they arranged to not actually start repaying the debt for 20 years.  Party today and leave the bill for someone else.

 

http://voiceofsandiego.org/2012/08/06/where-borrowing-105-million-will-cost-1-billion-poway-schools/

3 Replies
Senior Contributor

Re: this is criminal

Big surprise, it's in California....

 

 

Senior Contributor

Re: this is criminal

In a way, this is the same thing that got our so called "surplus" in the 90s. Then, we used long term debt to pay short term debt. Same thing only different

Advisor

Re: this is criminal

yep, and really its the entire economic philosophy hoisted upon the nation, borrow tomorrows productivity and use it today. tomorrow must support itself and yesterday.