The problem is that the vast majority of politicians and those in Govt are often SO quick to start the groupthink of “hey, paid this off – that’s the signal to turn around and buy more debt!”. It always seems to be the mindset that Govt should always be funding itself more INSTEAD of thinking “Hey, let’s give the taxpayers’ wallets a break by lowering taxes for a while”. Saw it all the time when I was on my hamlet’s Budget Committee. Thus, when I saw this, I kept marveling “wouldn’t this be nice if ALL levels of Government adopted this“?
Mishawaka is officially a debt-free city
Mishawaka now joins a seemingly small club of debt-free American cities, according to a release from the mayor’s office. This means some minor savings for homeowners come property tax time, and everyone is invited to a “Debt Retirement Party” on Friday.
Here is the full release:





