Canadian city is debt free w/a $700 M surplus due to it’s 88 year old mayor who has served 11 terms

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[youtube]http://www.youtube.com/watch?v=fY79KbCptTo[/youtube]

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9 Thoughts on “Canadian city is debt free w/a $700 M surplus due to it’s 88 year old mayor who has served 11 terms”

  1. Costner on April 14, 2009 at 11:11 am said:

    I saw that a few weeks ago….that woman rocks.

    However, as great as being debt free would be, there is no way in hell anyone would allow our mayor to hold a 700M surplus. They would burn him at the stake if held that much and we would hear continually whining about the citizens being overtaxed.

  2. l3wis on April 14, 2009 at 11:21 am said:

    I think a lot of that money will quickly dissappear. She mentions in the video about the massive mass transit system they are building, that will probably take a big chunck of that money.

  3. Costner on April 14, 2009 at 12:11 pm said:

    Novel concept. Save up for a large project and THEN spend the money. As opposed to the “we failed to think ahead and therefore need to borrow every penny for our multi-million dollar project”.

    I just wish our city leaders would get away from the instant gratification mode they are in. Anytime they discuss something it needs to be in the budget right now or we might miss an opportunity. My all time favorite excuse is “things will be more expensive if we wait”. Gee ya think? I wonder how many times that was said two years ago only to find out that today such projects are actually cheaper.

    I also wonder if any of these economic wizards realize when your borrow money to finance a project rather than waiting to pay for it when you have the funds, it will actually cost MORE.

    These are the types of people who take out loans to buy lottery tickets.

  4. l3wis on April 14, 2009 at 12:28 pm said:

    Don’t quote me on this, but I think the finance director said last year during the budget hearings that our debt service each year is $41 million dollars (around 10% of our total budget) and you can bet about $10 million of that is interest. Just think about that, the citizens of SF throw away almost $10 million a year. And who gets that money? Out of state bond investors. I have always said the city needs to balance the budget each year.

  5. John2 on April 14, 2009 at 3:29 pm said:

    Pay no attention to the impostor in the pink jersey. She’s a socialist. A socialist pinko.

    There’s nothing to see here folks, move along, move along.

  6. Mike on April 15, 2009 at 9:10 am said:

    John2,

    So what if she is a socialist? It’s working for her city and maybe her country. If we got away from hoarding our money all the time and think about other people and how we can help them, I think that we actually would be the best country in the world. Until that happens, I’m not convinced.

  7. Ghost of Dude on April 15, 2009 at 11:17 am said:

    Mike, I think your sarcastometer may need a tune up…

  8. l3wis on April 15, 2009 at 11:27 am said:

    I was just gonna say that.

  9. Mike on April 16, 2009 at 12:26 am said:

    Damn,

    I thought I had that checked last week.

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