Is this the time?
By Rich Elliott
February 23, 2009
Hopefully the fourteen individuals presently sitting on the Borough
Assembly and the City Council either read the newspaper or watch
the news on television. If they do, they probably can see that
not only our nation s economy, but the entire global economy
is in dire straits. Presently, it s in the toilet and possibly
over the next couple of years, it could end up in the drain field.
When you consider tourism, one of our larger industries, depends
upon people taking a vacation, you might conclude that our economic
outlook is not real bright. Adding to this, we currently have
a state budget set with the price of oil being at about twice
its current level. This is very likely to limit this funding
We would all like to have a new library, pool, aquarium, fire
stations, and arts theater. What we need to ask ourselves during
these very uncertain times is whether we can afford these luxuries
and is now the time for us to be bonding more debt.
It would seem to me if there was ever a time to rein in and see
what happens, it s the next twelve to twenty-four months.
Received February 21, 2009
- Published February 23, 2009
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