Take Out A Loan For Benefits?
Getty Images By: Steve Eason
Macomb County Michigan officials are planning to issue approximately $300 million in bonds to cover an unfunded retiree health care liability — and it's borrowing a small amount of that to renovate several county-owned buildings, according to the Detroit News.
Did you know that the county officials need the approval of the state's treasury department to do this?
Do you think governments should be taking out large loans to pay for their employees' benefits?
How did they get themselves into this situation? Spending too much? Bad planning?
Why don't they cut spending to make up for their bad planning or promising too much?
Why should the taxpayers of Macomb have to always pay, instead of the employees paying?
Or is it tough that the citizens of Macomb County must pay for the mistakes and/or incompetence of their elected officials?
What are your thoughts?
Call me tomorrow (Monday) on the Live with Renk show, which airs Monday through Friday 9 a.m. to noon, to let me know your thoughts at (269) 441-9595.
Or please feel free to start a discussion and write your thoughts in the comment section.