Debt … Default … Who will pay the bills?
I see today that the Mashantucket Pequot Tribal Nation has defaulted on its debt interest payments (see Hartford Courant article). As you all know they are the owners of Foxwoods Casino.
You may ask … What does this have to do with local politics?
Let us think about all of this ‘Grant’ talk that is happening in this corner of the State.
While many are applauding the wisdom of the leadership (in various Towns), do any of these folks understand what is happening here?
Instead of taking care of our local problems by planning and proper budgeting, we are obtaining grants to fill the holes. Most of this grant money is borrowed money, which is a debt we are passing on to our children and even our grandchildren.
These grants are not ‘real’ until the actual money is in the bank. They can be terminated before they are actually issued should the ‘grantor’ encounter financial problems.
This brings me back to the Mashantucket default … What does this mean for State revenue (where some of these grants come from)?
Who will ‘bail out’ this ‘Nation’? They are sporting a $500 million dollar debt (in this case) and according to the report billions more.
Are we not in the current mess (at least according to our brilliant leaders) because of excessive debt taken on by the American people?
If that is the case, why is the answer that the Government goes into excessive debt to save our sorry … well … you know the word?
When do people start using their brains and think about what is going on?
The only solution to the financial crisis in this country is good planning and budgeting.
Whether you believe it or not, the Big Picture translates all the way down to the Little Picture, our own small towns.
Responsible government is what we need. Irresponsible government is what we have.
Some think that the irresponsible government only exists in Hartford or Washington.
Let us not forget … The tree grows from the roots … Irresponsible government starts at the local level.
Irresponsible government is the direct result of irresponsible … if not down right ignorant … voters at the local level.