Interesting juxtaposition of articles in this morning's Salt Lake Tribune, with this chirpy story reporting earnings reports signalling "renewed strength in key companies" on the one hand:
• Economists hail uptick in spending...And this story, which delivers the bad news that the Salt Lake City metropolitan area is still reeling from "the largest percentage increase in foreclosure filings the past year among more than 50 communities hardest hit by the nation's foreclosure crisis," on the other:
• Salt Lake hardest hit in housingPutting it all in context, we note with astonishment that our home town newspaper is now strongly encouraging our city council to embark upon another round of massive public borrowing, in which connection we strongly urge the seven good folks on the Ogden City Council to be extremely wary.
With the above-described decidedly mixed economic signals, we encourage our City Council to treat our public monies with at least the same high degree of fiscal prudence which they would demonstrate in their own personal lives.
It's abundantly clear that the local economy isn't our of the financial woods yet. Now is NOT the time, we therefore believe, for the taxpayers of Ogden to be burdened with further risky public debt.
We should have learned some hard lessons about reckless pie-in-the-sky borrowing and spending from The Junction debacle...; but apparently we didn't. Hopefully our City Council will remember it's other people's hard-earned money they'll be gambling with.
That's our take and we're stickin' to it.
So what say our gentle readers about all this?
