It’s fiscal child abuse
Texas leads the nation in job creation, and we are #1 in exporting, #1 in state government transparency – and we are #2 in local government debt per capita. We don’t like being #2 on anything. But on per capita local government debt, we should be closer to #50 than to #1.
Local governments are $322 billion in debt – with another more than $5.08 billion on the November ballot. (And that does not include the interest which will add to the total debt.)
Voters need to know how much debt they currently carry and remember that debt incurred today will fall on the backs of future taxpayers – our children and grandchildren.
Texas Comptroller Susan Combs has announced an interactive Web page where Texans can view information on November bond proposals being issued by cities, school districts, counties and special purpose districts around Texas, the comptroller’s office stated in a release.
Information on more than 90 upcoming local bond propositions identified to date and a state bond proposition can be found on the Tell the Truth Texas website at http://www.tellthetruthtexas.org/tools/bond-elections.php.
We welcome this new tool for taxpayers to use. Please share it with your neighbors, colleagues, family and friends. And remember that bond elections are obligating future generations for debt. We are leaving our children a legacy – will it be a legacy of ever-increasing debt?
Here is how the current local government debt in Texas is allocated: