The mayor and board of aldermen are elected to govern the city of Starkville. A huge part of that task involves planning ahead and managing the city’s growth and future.
I dislike debt — personally as well for business and government. Debt, while it expands present options temporarily, limits future expenditures significantly.
In spite of my dislike for debt, I know that not all debt is equal. Some debt can produce sizable advantages for the city that would probably not be possible otherwise. This debt is usually to fund capital projects that end up producing growth and ultimately revenue for the city. New infrastructure that enhances commerce (and ultimately sales tax collections) may fall into this category.
Other debt is simply entered into to feed consumption. As a general rule, I feel such debt is unwise. Borrowing to fix potholes could fit into this category. Road maintenance, like groceries to a family, should not come as a surprise and should be budgeted for and paid for as needed.
In light of the above examples, my philosophy is to avoid debt if at all possible. Simply put, we must plan ahead so we don’t have surprises. Sometimes that means saving some of the taxpayers money in a “rainy day fund” for the surprises that inevitably will come. In so doing, we can avoid unnecessary debt and the interest payments and limitations that debt always brings.
