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Voters summit. he has raised taxes dramatically, raised spending dramatically and dramatically lowered the bond value of the county. reporter: so we have three things to consider here, anderson, and we want to go over them. we went over both of them with a spokesperson for coons, and a political science professor. first, coons and the county counsel did raise property taxes three times in the past five years. that is a fact. second, the latest operating budget for the county where he is the chief executive is just under $246 million, that s up about $7 million from the previous year. that is up. and third, the bond rating, which is essentially the government equivalent of a credit score, it shows how likely the government can pay back debt. this county has been bragging lately it has in fact had the ....
Political science professor. first, coons and the county counsel did raise property taxes three times in the past five years. that is a fact. second, the latest operating budget for the county where he is the chief executive is just under $236 million, that s of about $7 million from the previous year, that is up. and third, the bond rating, which is essentially the government equivalent of a credit score, it shows how likely the government can pay back debt. this county has been bragging lately it has in fact had the highest possible bond rating for nine years, anderson. so it seems what you re saying is from what i m hearing, a mixed bag of facts and a little bit of fiction to what mr. gingrich said. reporter: you re absolutely right about, but it also needs context. coop the county embarked on unsustainable spending programs before coons was in charge, then they were hit with the housing crash and recession like ....
That is a fact. second, the latest operating budget for the county where he is the chief executive is just under $236 million, that s of about $7 million from the previous year, that is up. and third, the bond rating, which is essentially the government equivalent of a credit score, it shows how likely the government can pay back debt. this county has been bragging lately it has in fact had the highest possible bond rating for nine years, anderson. so it seems what you re saying is from what i m hearing, a mixed bag of facts and a little bit of fiction to what mr. gingrich said. reporter: you re absolutely right about, but it also needs context. coons spoke person and the professor confirmed that the county had embarked on unsustainable spending programs before coons was in charge, then they were hit with the housing crash and recession like everyone else so he had to cut some programs and raise some taxes to keep from going too deeply into the red. that said, he has tended to ....
Household. i don t have it, i can t pump money in the household. it s called a mortgage, tracy. even the states are trying to cut back and we re not seeing it at the federal level whatsoever. cheryl: a lot of money going out and not lot of money coming in. it s true, the history has been written for us. if you continue to do this, you will do it just like jonathan said. the power to spend is the power to govern. as long as you have prof lettic politicians that are passing out money and put off day of reconning, it will come. it can t. we have a printing press. tracy doesn t have a printing press but the federal government does. we ll pay back debt with worthless money. the $200 billion is war spending, social security, tax cuts we can t afford, those are what is doing it. exactly right. cheryl: john, you can support the rest of us, right, john? define bankruptcy. ....
Diverge. we are very slowly digging our way out, a tentative step towards improvement. that doesn t do very much to fill in this huge hole right now. quickly, is the market responding to that news? yesterday it was down but based on news overseas not here. the market is impatient like a three-year-old kid. it sees a lollipop and they want the jobs to have improved yesterday. they thought it was going to get better sooner and it hasn t. the other problem we have is the problem with greece as you know. their ability to pay back debt. that raised a lot of questions about those in the euro zone, a sovereign debt crisis here and disappointing jobs number over there, that s over here actually. we re off our worst levels, 150 down on the dow, now 120 last i looked. steve, thank you very much. ....