Reply to School bonds on November ballot

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]Bond debt payments (both principal and interest) is [b]only 10% [/b]of the general fund.[/quote]

This does not send the message you think it sends.[/quote]

Bond payments being only 10% of the general fund is incredibly good, actually. It is much higher in other counties. [/quote]

So, you would be thrilled if your car payment was only 10% of your financial assets?[/quote]

Building a new school is more like a mortgage on a home than it is a car loan. But thanks for pointing out how great it is that Fairfax County is spending only 10% of the general fund on debt, considering most people's home payment is around 30% of their income.[/quote]

In a county the size of Fairfax, this sounds much more like a family spending 10% on a car loan.  One school out of hundreds of schools is hardly the equivalent of your home mortgage to your budget.  Remember, schools are over 50% of the budget in Fairfax. To spend 10% on bonds, is additional.  And, interest rates are significantly higher than they were.[/quote]

Most county governments are spending way more than 10% on debt. And at much higher interest rates than Fairfax County pays. I used to live in a city with terrible schools that was paying over 30% of their budget on debt services. They had a BBB rating. Fairfax has better schools while spending less on debt, at a lower rate due to the AAA rating.[/quote]

My guess is these less affluent areas have to borrow more money and don't have the revenue sources that Fairfax has (the high value Fairfax properties). In other words, Fairfax has no shortage of money with which to avoid debt - it keeps the rating good. Other areas are not so fortunate, not necessarily because they don't spend wisely, but because they don't have a large tax base.

That does not mean that we can't hold Fairfax responsible for bad spending. And there is definitely bad spending.[/quote]

So, would you rather just raise taxes? Or do you not want to renovate schools?[/quote]

First, use available space before enlarging schools. Second, stop the elaborate renovations. Keep the renovations modest and stick to what is necessary.

Until then I will vote No on the bonds.[/quote]

Gee, thanks for suggesting that. I'm sure nobody had ever thought of either of those things.[/quote]

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