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Dear Editor:
Carmel’s Establishment, stung by recent reports of huge increases in the city’s $2.4 billion debt, has a new strategy.
Instead of huge, the civic spenders are playing small ball perhaps as a way of further ignoring the colossal economic impact of the government-invoked lockdown.
On Wednesday, city hall quietly added $186,098 to the total outstanding debt obligation it submitted to the Indiana Department of Local Government Finance.
On Friday, $171,866 quietly joined the $186,098.
This brings the 2020 debt increase to $26.5 million since New Year’s Day. And, of course, the outstanding debt reported is based on just $311.7 million in principal despite the city’s annual reports showing $790.9 million in principal outstanding Dec. 31, 2019.
At those prices, don’t you think Carmel’s taxpayers deserve a bit more creativity than an every-other-day Chinese water torture?
Bill Shaffer
Carmel
Mr. Shaffer is correct, this debt the city has taken on is ridiculous and borders on Malfeasance. We have a mayor and a board that are totally responsible. Citizens of Carmel should wake up ,we need to get rid of these people ASAP.