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The Libertarian Party’s Right on Target on Municipal Debt

A portion of yesterday’s Monday message from the LP appears below, from that party’s executive director. I’ve included the portion that would stand out even if not posted by itself: the role of municipal governments in profligately issuing public debt (as bonds) for local projects.

It’s true that increased indebtedness occurs under Republicans as much as Democrats. In fact, there’s a species of small-town Republicans who become big-spenders as soon as they get in office, wasting money on self-aggrandising efforts, favored businesses, or both. They oppose federal expenditures, but then embrace local versions of the same national programs they decry. Excerpt immediately following —

For example, I’m dismayed by how frequently local bond measures pass, putting local governments further into debt. Those measures seem to pass whether local politics are dominated by Democrats or Republicans.

True enough.

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