This page contains a single entry from the blog posted on June 24, 2008 11:06 AM. The previous post in this blog was In over their heads. The next post in this blog is It worked in Portland. Many more can be found on the main index page or by looking through the archives.

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Tuesday, June 24, 2008

What's in your wallet?

Can the local government in these parts buy anything without borrowing money for it? Here's another new line of credit -- $5 million -- for new computers for the Portland Development Commission. A five-year line of credit -- which means that the stuff will probably be obsolete long before the debt is paid off.

Comments (6)

Geez, how many new computers do they need? I bet they'll pay $2k a pop for computers half as fast as yours, Jack.

They don't have friends like I do.


Oh I'll bet they have "friends" that are only too happy to sell things to them.

Another black day for fiscal responsibility.

When they start borrowing money to pay interest bonds they can't afford to service, I'm moving.

I'm not moving until they start selling bonds to pay for bonds paying interest on bonds they sold to pay off the director's severance package.

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