Last night, the Mandel, Goggin, Adelson, and Torres administration agreed to borrow an outrageous $38 million! When this administration took office in January 2012 the city had a debt of approximately $48 million, one of the lowest in NY state of comparable municipalities. Since that day the Mandel, Goggin, Adelson, Torres Administration has increased the city's debt to over $125 Million, an increase of $68 million in less than two years! Taxpayers get ready to pay!
Here is a list of what the Mandel, Goggin, Adelson, and Torres administration has borrowed sine taking over city hall in January 2012:
- March 27, 2012 - $6.0 Million
- June 19, 2012 - $5.0 Million
- July 5, 2012 - $5.75 Million
- August 6, 2013 - $5.90 Million
- August 21, 2012 - $5.45 Million
- August 27, 2012- $38 Million
- TBD- State Loan - $12 Million (planned borrowing)
TOTAL = $125.1 Million
But it's not just borrowing! The Mandel, Goggin, Adelson, and Torres administration has raised our taxes over 15% in less than one year, hit us with a taxpayers surcharge, they plan to borrow $125 million, they paid the Police Commissioner $300,000 in one year, gave away over a $1 million in jobs to family and political friends, are they spending over $44 million on a boardwalk without absolutely any assurances whatsoever of being repaid by FEMA, and the list goes on.
Long Beach residents are not going to be able to afford to pay their tax bills. Add that to residents' increasing flood insurance rates and many people will decide they simply can't afford to live here any longer. If the spending, borrowing , and taxes keep increasing Long Beach may very well witness a return to the 1970's as there is a mass exodus out of the city, which could have been prevented!
City Manager Jack Schnirman says we "need" to do all of these repairs in the city. Think about this: When you do repairs on your home, do you fix everything or do you fix what you can afford? This administration is going to send our city down the same path as Detroit, Michigan- Bankruptcy, unless they decide to tighten their belts and stop the insane spending, borrowing, and taxing.
Jack Schnirman also doesn't believe that short term debt is actually "debt." I don't know what they taught him at Harvard, but in my book, if you owe money, you are in debt. But then again Schnirman is the same man appears to have lied on his LB job application resume about his job experience, so one has to question all of work experience and his education as well; if he lied about one thing could he have lied about others?
All of us want to improve our city. But we should only do what we can afford to do and what taxpayers can afford to pay! We cannot bankrupt our city and tax our residents out of their homes to pay for it all at once. What good are all these repairs if no one is living here to use the infrastructure?
Don't let Mandel, Goggin, Adelson, Torres, and Schnirman bankrupt our city and tax us out of the city we love!
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