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Dear Editor:
In the midst of the greatest economic uncertainty in a century, Carmel’s city council added an estimated $40.5 million to its total outstanding debt.
While the rest of the nation tightens its belt, Carmel gorges on debt. The latest action approved $26.5 million in new borrowing. It will carry an estimated $14 million in interest.
That $40.5 million will be added to the $26.2 million added to the city’s debt since Jan. 1, according to Indiana Department of Local Government Finance data the city provides.
While $66.7 million seems a drop in the bucket to an establishment $2.4 billion in the hole, it’s hard to justify it to the single parent just laid off from one or two jobs, trying to pay the rent to stay in Carmel so her kids can get a fine education.
As for seniors – the most at-risk in the coronavirus scourge – a $66.7 million increase in just six months seems absurd.
Bill Shaffer
Carmel