Todd R. Hathorne Profile picture
Time value of money is the least learned lesson. Proudly followed by Jessica Anderson.

Jul 23, 2020, 17 tweets

Ok. From time to time, I have to admit I was wrong. I have been critical of Rio Rancho City Council. And, I was wrong. I have said that the largest conservative city in New Mexico has a responsibility to be a part of the solution in regards to taking money for Corona Virus.

This critique is specific to the tone deaf responses of City Council during this "health crisis". Our Mayor, Gregg Hull, has continued to be a part of ever increasing debt measures. The newest council members have a documented history of weak financial decisions.

And therefore continued to pass new debt measures heralding these measures as great successes, showing the world that Corona Virus closing down businesses will not deter the debt train. I still stand by this portion of my critique. I have been a debt hawk for decades.

And this council has reversed course from previous councils who have sponsored tithing ordinances that accelerated debt payments. This council has moved away from other councils who paid for new cop cars with cash as opposed to debt.

This council and Mayor have done nothing meaningful to address the damage caused by the Corona Virus. (This statement is somewhat inaccurate in that the reduction in services that has occurred at the city has come at the behest of a reduction in revenue. The main example

is that of the cutting out of the Sandoval Economic Alliance funding in the last budget. It is a good move and, right on que, an email surfaced that was critical of the decision. I am not the first person to say that much of that email was perfectly focused on specifics

in the political accuracy of the description of motives in Rio Rancho. But, for the record, I was not the author of this anonymous missive.) This council did cut the budget, and specific programs in which I have been extremely disappointed. The sad part of my wrongness is

the failure of this council and Gregg Hull in particular is the failure to provide any alternative to path of increasing debt. I have said this before and will say it again. We need a shift to an asset management paradigm away from a debt management paradigm.

This shift can occur. And there is plenty of evidence around us. For example: taxfoundation.org/publications/s… The Tax Foundation is a regular haunt of mine. Some who follow this Twitter account will recognize the source. It shows that the focus of conservative governments should be a

profound discussion about the size and scope of government. We need this discussion now. I am calling on the City Council of Rio Rancho to lead this discussion. It is the best time when so many businesses are being shuttered by our Governor. Stop saying "We are all in

this together." when it is clear that the City Council in Rio Rancho continues to pass debt obligations in face of reduced GRT's. Those votes will be the high light of your hypocrisy if you fail to engage. @UnrollThread @ronaf59 @p_anaya75 @andstillkool @mapod1964

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