The J. P. Morgan financial firm recently published a chart that shows the financial liabilities of the state and local governments with the worst rations of debt service requirements to revenue.
They put El Paso on the chart at about 42%.
From their report:
While there’s no hard and fast rule, municipalities with IPOD ratios over 30% may eventually face very difficult choices regarding taxation, non-pension spending, infrastructure investment, contributions to unfunded plans and bond repayment.
We deserve better