Archive for July, 2011

Fort Wayne Debt Continues to Grow

Tuesday, July 19th, 2011

Last week, the Henry administration released the 2010 Comprehensive Annual Financial Report (CAFR). The late release of the CAFR is not particularly newsworthy until you read it.

This report highlighted what many of us have feared during the entirety of this administration. Fort Wayne city government is spending too much and debt is growing astronomically.

Fort Wayne’s long-term debt is now over half a billion dollars. That’s billion with a B.

We all know the story with the national debt and the perils of its size and scope. I think many Fort Wayne residents would be shocked to learn that our city debt has grown by a larger percentage than the Federal debt from 2002-2010.

It’s hard to believe, but while I was working with fellow members of county council to take our budget from debt to surplus, the Federal debt grew by a whopping 118%. Not to be out done, the last two Democrat city administrations grew Fort Wayne’s debt by a mind-boggling 145% during the same timeframe.

We all know that there is finally some movement taking place in Washington on stopping the growth of debt. Fort Wayne needs to place it’s focus on debt locally, too.

I’m running for mayor because I don’t want Fort Wayne families to pay higher taxes tomorrow for the extravagances of this city administration.

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