[Mpls] MPLStown's Debt

[Allen]

Is there any talk of Minneapolis changing it's city charter to require the
council to keep the city's budget balanced over a year or two year period of
time?  I'm curious.  This seems to be the only way of preventing politicians
from passing the problem on to the next people coming into office or even
the next generation.  For example, Rybak didn't rack up these debts but now
has to deal with them.  Thanks.


Allen Graetz
Lowry Hill

-----Original Message-----
From: mpls-bounces at mnforum.org [mailto:mpls-bounces at mnforum.org] On Behalf
Of Michael Atherton
Sent: Monday, January 03, 2005 3:58 PM
To: mpls at mnforum.org
Subject: RE: [Mpls] Republican Views of Minneapolis


Steven Clift wrote: 

> Does the city have a set of graphs and charts online that 
> provide an overview of revenue and expenditures?
> 
> Sort of like this:
>
http://www.taxes.state.mn.us/taxes/individ/other_supporting_content/wheretax
esgo02.shtml

> I'd be interested in better understanding in graphical terms 
> where property taxes revenues are coming from (both commerical 
> and residential by area and as percentages over time) and 
> something that brings home the reduction in commerical property 
> tax and what needs to come out of residents.  I guess something 
> that showed any reductions in school property taxes per the state 
> spending shift and how other county taxes fit in would be useful.

My original question is actually much similar: Is the proportion of 
the city's budget that represents debt increasing or decreasing?

It's a scary thought that the proportion of debt might be increasing
in order to finance itself.  That is, are we borrowing to pay
principle and interest on existing debt?  I would hope that even
people who don't believe in the "bottom line" would see the folly
in this (unless interest rates are effectively lower).

On an unrelated topic Greg Abbott wrote:

> Occam's Razor - the simplest explanation is mostly likely the correct 
> one.  

Not! Occam's Razor suggests that an equally accurate, but simpler 
explanation is preferable to a more verbose one.

Michael Atherton
Prospect Park


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