With Halloween right around the corner, I thought I’d share this true life horror story.
The City of El Paso’s debt structure is predicated on an ever-expanding tax base. As our debt increases over time, it’s expected that our population and tax revenues will expand to cover it.
Well, guess what? It ain’t happening.
Our pension fund will probably bite us first. After that, it won’t matter what we do. Our entire debt structure will fall like a house of cards, or dominoes, or that drunk guy that keeps trying to get back into the bar.
Probably that drunk guy is the best metaphor, because he keeps trying to get back up.
Bankruptcy, my friends, is inevitable.
The revisionists will blame the pension funds, but you and I will know that it was an ambitious City regime that adopted a suicidal capital infrastructure expansion plan and the successive regimes that stayed the course.
Maybe Amazon will save us. (Ha!) Or that arena. (Haha!)
No, the truth is that the only way to save us is by increasing our collective productivity, now, but our ruling class is not interested in that, because increasing our collective productivity doesn’t feature luxury skyboxes or transferring money from our pockets to their bank accounts.
The canary’s dead, and we’re still in the coal mine.
El Paso government officials used to enjoy being photographed in special seating such as box seats in the baseball stadium. Once the public became aware of this perk and others they stopped posing. They enjoy front row seats at events and free parking at the airport. Btw the parking is for official business trips only not when they travel for pleasure. It’s all FREE ! Even when they present tickets to the various events, the tickets are FREE !
Why of course they vote in favor of ANY building. Look at the perks. They’re salivating in anticipation of additional perks like free and special seating at the “new” arena.
Remember when they pushed for bike lanes. Then rode around in a/c cars. They needed cars to attend meetings (wink). Why don’t they use their empty Brio buses ? Or ride bicycles whether they’re on or off duty ? Ah yes, let’s not forget the FREE steaks that caused one of them to lose election. He went berserk because he wasn’t invited to the meeting, thus no free steak.
Notice the pattern ? FREE , FREE, FREE and things that are good for you but dont apply to them because they’re elected officials.
Oh well, I’ll just stand in line in the hot sun hoping to find a good seat for twenty five dollars. There goes one of the elected officials thru the private entrance on the way to their reserved and choice seating FREE.
We’ll always have Paris.