It’s good policy (whether personal or political) to live within one’s means and to avoid charging future generations for present expenses.

Sadly, Provo’s municipal officers have not kept our city’s budget balanced in recent years; instead, they have been selling us into financial bondage by occasionally borrowing massive amounts of money to invest in risky business ventures that are best left to private entrepreneurs.

Such fiscal profligacy has skyrocketed Provo’s municipal indebtedness to over $100 million, which averages to about $1,000 per resident, which is arguably ridiculous.  It has also helped to rank Provo among Utah’s top 10 most debt-ridden cities.  Such debt may benefit bondholders but not the vast majority of us.

Please consider these four examples…

1. iProvo Fiber-Optic Network
2. Provo Recreation Center
3. UTA Bus Rapid Transit (BRT)
4. Provo City Center (Proposed)

(For more Problems, please see both Taxing-and-Spending and Envisioning Statism.)

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References:

• Deseret News: “Most indebted municipalities in Utah” (2012 Mar 24)