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Dear Editor:
Last week, the Bureau of Labor Statistics released inflation numbers that bode ill for big-debt Carmel.
Import prices rose 10.6 percent; exports, 14.4 percent; the Producer Price Index, 6.2 percent, and the Consumer Price Index, 4.2 percent.
Real Earnings increased 3.7 percent, hardly enough to neutralize the growing inflationary trend.
With $1.3 billion in debt – and another $123 million in new borrowing on the table – Carmel’s debt hustlers well know inflation is another world for “taxation,” further weakening public faith in the city’s ability to govern rationally.
Bill Shaffer
Carmel