How much debt should a city risk? CEDAR RA
CEDAR RAPIDS — Little gets more talk on the national political stage than debt.
Republicans call for spending cuts by the federal government, while opposing tax increases on wealthier Americans. Democrats support such revenue-increasing taxes, while opposing spending cuts.
“The federal government is using debt to pay for operating expenses in a lot of cases,” said Cedar Rapids City Council member Kris Gulick, an accountant and business consultant and current president of the Iowa League of Cities. “That would be like us going out to borrow money for the Police Department to operate. That’s a bad business practice, but that’s what the federal government is doing.
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