I recently came across numbers from the Mason County Auditor's Office that you really need to know about. Hang in here with me because the blog format is not really the best for this. So if I lose you here's the bottom line up front. For the years 2006, 2007 and 2008 this Board of County Commissioners spent nearly $3 million more than they brought in.
2006 this Board spent $901,073 more than they collected in revenue. 2007 was $581,817 in deficit spending. But get this - in 2008 they had a whopping $1,294,758 in expenditures greater than revenue collected.
Mason County, that's why the Treasurer since April 2007 has been trying to rein the spending in. That's why the county needed a loan last year for $2 million to make sure the bills could be paid. That's why the county now has a $2 million line of credit.
Mystery solved. The Board of County Commissioners has spent more than Mason County collected during this most recent four year period. I don't know about you, but for Dean and me that's never worked for us. Doesn't look like it's worked for the county either.
Wednesday, June 23, 2010
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Has anyone seen my wallet? I attended a BOCC meeting and when I left my wallet was gone and I smelled like wood smoke.
ReplyDeleteCoincidence?
Surprise, surprise, surprise. Probably ought to give that information to the Journal to see if they might want to inform the public. Ross Gallagher has these little paper handouts at Democratic Headquarters and amongst his accomplishments is working with the Commissioners to balance the county budget. So, the way to balance the budget is to borrow $2 million. My experience is not in accounting, but does that really qualify as "balancing the budget?"
ReplyDeleteSometimes deficit spending can be good for stimulating the economy in economic down-times.
ReplyDeleteIt's called the Keynesian Effect.
But does it constitute "balancing the budget?"
ReplyDelete"Sometimes deficit spending can be good for stimulating the economy in economic down-times.
ReplyDeleteIt's called the Keynesian Effect. "
Well there sure hasn't been a shortage of that Keynesian spending at the federal level. This is not the place to debate the appropriateness of Keynesian spending - but under no stretch of the definition is the deficit spending by these Commissioners Keynesian spending. Call it what it is - sloppy careless management of Mason County tax monies. Time to replace these Commissioners with people who understand the budget process!
Steve
Steve is correct. Keynesian economics only works on the margins if you are a federal government with the ability to increase the monetary float by printing currency and can later reduce the float to avoid inflation. Unfortunately this NEVER happens and that in turn builds-in long term inflation, which is code for hidden taxation.
ReplyDeleteKeynes was essentially a shell game huckster.
His "theory" works because the government borrows dollars and pays back with wooden nickels. Thus the 1913 US dollar (when we started the Fed) is now worth less than 1 cent.
The Trillions we are spending now will like;y never be paid back, certainly not with "dollars" with the purchasing power they have today.
Remember, dollars are just pieces of paper. As such their value (what they can buy) changes day to day.