Tuesday, February 17, 2009 —
If we stop the “stealing opportunity” and apply 8 percent (5 percent + 3 percent) to a needed contingency reserve the great county of Stanly would have some insulation to the encroaching major economic recession.
It has been dully noted by economists all over the spectrum that what we are allowing our government to do with TARP and Stimulus is not going to abate anything.
In fact, it is almost the same attempt that Hoover and FDR tried at the onset of the 1930-1940 Depression that led to a second major recession in 1937-1938. Didn’t work then and an awful lot of learned men say it won’t work now. But that is another discussion that should be covered separately.
The point is that you commissioners have a duty to run our local government prudently as our appointed (elected) stewards with diligence and forethought.
In my own tiny economic operation, I know that during hard times my money cannot be spent on willy-nilly daydreams. A reserve is needed to handle unforeseen situations and those things that are truly needed.
Why can’t we do the same in our local government(s)?
Thomas M. McCluskey