Our esteemed leaders seem to have forgotten that Scranton's problems stem from spending too much. Yes, this loan will help over the short term, just like another "hit" will make the junkie feel better for the short term. But one more hit for the junkie...and one more bill for Scranton...both just forestall a day of reckoning.
Ms Evans, Mr Doherty: you can't borrow your way out of debt. It doesn't work for individuals, it doesn't work for companies and it doesn't work for cities. Oh, and a recovery plan that relies of taxes that will not be enacted (sales tax) and voluntary payments that will not be made (PILOT) isn't really a recovery plan: it's wishful thinking.
Scranton is already bankrupt...it's time to make it legal.
Post a Comment