Just like to many families borrowing against their future for the sake of Christmas joy, Kansas City's credit is under threat thanks to a slate of ambitious projects and even more borrowing.
The City Hall hilarious exchange this week . . . Even Mayor Sly was trying to get noobs on the City Council to understand that more borrowing hurts credit as if he was teaching some fundamental finance class wherein the novice crowd can't comprehend how more fun-time cash could limit access to funds in the future.
This afternoon, Northeast News has the best write-up of the sitch . . .
Bond counsel recommendation leads to more questions regarding $800M G.O. Bond
And so . . .
Today's holiday season lesson . . . While Mayor Sly & so many Council denizens should have been funding serious infrastructure work in the first place rather than playing with toy trains and Convention Hotel party time play sets . . . Now that money for desperately needed maintenance is needed . . . City Hall is going to get hurt for their screwed up priorities.
Of course the answer to this, without remembering a turbulent and somewhat recent financial history, is that credit ratings are just great . . . For now.
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