Our interest expense

The proposed 2017-2018 city budget includes $60,986,279 for interest expense.

Remember that the majority of the quality of life bonds have yet to be sold.

We deserve better

Brutus

7 Responses to Our interest expense

  1. Progress says:

    This $60 million will more than double in the next ten years, and it is only interest payments. This is the gift from politicians like Susie Byrd, Steve Ortega and Cortney Niland for what they called Progress. There is more to come as they increase the amount of the bond projects and further continue borrowing money to pay for things that our taxes are already supposed to cover, like road maintenance. Like an STD, this gift keeps on giving and cannot be gotten rid of…

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  2. Old Gringo says:

    Had Mayor & Manager and Council had enough sense NOT to spend all the money on BS stupid crap that they are paying interest on, they could refund about $100.00 to EVERY PERSON IN EL PASO! (60,986,279.00 divided by 649,121)

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  3. Would it not now be a good thing to just abandon all of the ridiculous QoL issues entirely? Were they not really just so many pigs in so many pokes? Maybe if we just forgot about them, including that very stupid downtown arena that y’all were just told you cannot have, we could focus on fixing the streets and paying down current debt!

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  4. The Oracle says:

    If the City let the people Vote on LOWERING our Property Taxes, I think they’d get a MUCH BIGGER turnout.
    (Like 90% of the homeowners. . .)

    In any voting . . . .When it comes to City and County Finances, “Financial Expenditures”, maybe ONLY Property Owners should be allowed to vote. And those that vote “FOR . . Increasing Property Taxes” the increases should be added to THEIR property taxes only.

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  5. Tickedofftaxpayer says:

    Remember when the crazies contradicted the Paso Del Norte REIT investors’ bond promotion ads (whoops, I mean education campaign) that claimed Q of L would not cost taxpayers anything by have the gall to point out that we’d have to pay interest expense and operating costs. Guess we were right. And since we’ve all the pad that used to be in the general fund on donor and activist demanded items, the only way to balance the budget is tax increase. It will only get worse as these projects come on line and add operating cost to the budget– none of them collect sufficient activity fees to cover all operating costs.

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    • anon says:

      They never said QOL would not cost taxpayers anything. They said the ballpark would not cost taxpayers. As we know now, even that was a lie. The QOL projects were a red herring to distract people from the issues and total cost of the ballpark.

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  6. The Oracle says:

    $61 Million a year . . in Interest !
    Wow.
    We work really hard for our money/wages/income . . . and the City is increasing our property taxes just to pay interest.
    That’s F’d UP !
    That is. . . . . Bastardy.
    Evil.
    Those that: Do this/ Did this/ are not worthy of being called “Human” and should be cast into the depths of hell.

    (That’s what I think anyway.)

    Like

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