Gandhi warns against more borrowing
D.C. Chief Financial Officer Natwar M. Gandhi is cautioning the mayor and council against borrowing any more money for projects as the city gets closer to hitting its 12 percent debt cap.
A $200 million budget gap remains for fiscal 2010, and a $500 million gap looms for fiscal 2011. Mayor Adrian M. Fenty (D) will release his fiscal 2011 budget April 1, and government employees are bracing for major cuts, from jobs to operations. At the same time, Fenty continues to push development projects, particularly schools and recreation centers. Gandhi's letter comes as the Fenty administration is in the last days of crafting the proposed spending plan.
-- Nikita Stewart
By
Washington Post Editors
|
March 18, 2010; 4:47 PM ET
Categories:
City Finances
,
D.C. Council
,
Mayor Fenty
,
Nikita Stewart
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Posted by: starclimber9 | March 18, 2010 5:42 PM | Report abuse
Fenty doesn't care how he spends White folk's tax money.
Posted by: tjhall1 | March 19, 2010 9:58 AM | Report abuse
The solution is to take the over $245 million the Council gets as 'pork' money. That should do it and to really even it out stop paying for lawyers to defend Barry and eliminate the 2nd or 3rd offices and staffs the Council members have. That should be more than enough AND stop paying METRO workers $80,000 a year to drive a train which they just crash because they have no training and are political payoffs.
Posted by: KBlit | March 19, 2010 11:15 AM | Report abuse
If taxes in my home of DC were lower I'd do more shopping in DC. Now I go to Maryland and Virginia. If you want more money, lower taxes.
Posted by: BaracksTeleprompter | March 19, 2010 5:07 PM | Report abuse
Suspend the street car program. It is too expensive and there is not a system in the nation that is producing a profit. It is a cash drain that the District cannot afford.
Posted by: concernedaboutdc | March 20, 2010 10:30 AM | Report abuse
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Remember the good old days when cab drivers brought cash flow into the city?