By: Diane Benjamin
Fitch hasn’t changed Bloomington’s credit rating from AA+, but you need to understand why. See the story here: http://finance.yahoo.com/news/fitch-affirms-bloomington-ils-gos-182900665.html
They seem to have miss the local RISING unemployment rate, even though the story does mention Mitsubishi closing.
The article has much more information. I’m sure Mayor Renner will tout his great management. Understand that Fitch is giving Bloomington this rating because of Home Rule and the City’s ability to tax you to death. (Just like we’ve already seen)
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Yes if you can tax ’em to death, we will give you a higher credit rating. But as Margaret Thatcher once quipped about socialism, it was something like, ~ the only problem with socialism is that eventually you run out of other peoples money. Obama’s transformation of America, Renner’s culture change. Two (dirty) birds of a feather.
The campaign spin will begin. After reading the entire on-line article, the financial state of Bloomington is not so rosy.