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
El Taxo. Bankruptcy in progress. And yet the wasting, spending, giving THEMSELVES pay raises never stops. The Commissioners just gave themselves pay raises, because “Commissioners in other cities are paid more”. 🙂 Maybe the other cities are not busted, broke, bankrupt, TAXING the people into poverty? Wonder if POLICE got any pay raise. With these politicians, guess that Renta-Cops are next. IF they can even afford them. A new BILLION$$$$ “Budget” and TAX INCREASES on US.
Once a salary benchmark is established, most entities set increases either based on profitability (not possible with government) or some cost of living increase benchmark. Taking 70% of what other large cities pay doesn’t factor in the lower economic growth performance of this region. They really should be comparing themselves to other border cities.
Local politicians will find a way to be #1. They love rankings.