White Calls Attention to Unchecked Debt by Government
Wesley White, candidate for County Council District 1, issued a statement about the ever-growing problem of government debt and the dwindling pool of resources to meet that obligation. “Everyday taxpayers’ are burdened with mounting debt and with less and less to show for it,” White stated.
“Federal all the way down to local debt is putting a serious strain on public tax dollars. Unlike the Federal government’s ability to raise the debt limit, County government must keep within a set statutory limit. It sounds like good accounting until you look at the process,” White said.
From 2002 through 2008, according to the SC Treasurer’s local Debt Report, the Anderson County debt limit was well within the 8% limit set by state law. However, in the fiscal year 2008-2009, County debt exploded to a staggering $90,575,072, a jump of 47% when combining general obligation and borrowing on revenue.
White stated, “That’s nearly $500 per man, woman, and child in Anderson County. And it almost exceeds the state mandated limit of 8% of assessed value of Anderson County. That leaves precious little wiggle room for disasters or unforeseen events.” White added, “Debt, when properly used to provide economic growth or public safety, can be a benefit, but borrowing millions for the sake of borrowing is foolish.”
White said he would tighten up the manner and the means for the County to borrow money. White stated that priorities would have to guide future debt and methods of arriving at our limit should take into account economic downturns and property devaluation. “Being able to borrow money on tax exempt property such as hospitals, schools, and utilities only puts the burden on homes and businesses,” White stated.
Wesley White is a civil engineer and a candidate for County Council District 1. He can be reached at (864) 634-4399.
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