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A city in debt

September 1, 2013
Williamsport Sun-Gazette

With Mark Maroney's report of "Capital Projects" for the city of Williamsport in the July 26 edition of the newspaper, my understanding of the article is that the city of Williamsport is $12 million in debt, and that they want to take out a line of credit to boost the total city debt to $20 million, giving the city a new line of credit to spend $7.2 million dollars. If this is correct, is this going to put the city of Williamsport on track to become a member of the numerous municipal governments that have gotten themselves in sustainable debt for future elected officials to figure out how to get out? Isn't this what is known as "Generational Theft?"



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