Letters to the Editor do not reflect the opinions of The Reporter, its publisher or its staff. You can submit your own Letter to the Editor by email to News@ReadTheReporter.com. Please include your phone number and city of residence. The Reporter will publish one letter per person per week.
Dear Editor:
Corey Sylvester’s timely suggestions (The Reporter, Nov. 6, 2022) laid out a battle plan for “recession survival.”
Carmel’s unelected central planners would do well to adopt his plan. Here’s what Sylvester suggested (in part):
- Assess your income stability. (Carmel’s property tax revenues show a steady shrinkage in growth rates.)
- Review your spending. (Carmel’s expenditures have grown 99.7 percent since 2011 as population increased 27 percent.)
- Try to reduce your debts, especially those with high interest rates. (Carmel issued $193.1 million in new debt last year at a total interest over time of $109.4 million or an effective interest rate of 56 percent.)
The incumbent mayor has said he will not seek re-election in 2023. Perhaps his successor will honor Corey Sylvester’s prudent guidelines.
Bill Shaffer
Carmel
Since when do politicians heed the advice from someone who offers their opinion in a letter to the editor?
Saying the “effective interest rate” on the latest bond issuance is 56% is akin to saying the “effective interest rate” on the typical 30-year fixed rate home loan is 137%.
Let Bill be Bill – He’s like the neighbor that constantly offers advice without being solicited for such.
& runs his leaf blower at 7am on the weekends …