Amendment 61 allows local bonded debt only, for strictly limited time periods and amounts, and only after voter approval in November elections. Example: Borrowing 0 million at 7% interest for 30 years costs 9 million to repay. Borrowing that amount for 10 years costs 9 million. Taxpayers would save 0 million in interest. That savings can buy the next 0 million project in cash. This saves the taxpayers a total of at least 9 million in interest. Amendment 61 re-affirms the plain meaning of the 1876 ban on state debt, and deletes all obsolete exceptions. No debt, no borrowing, no loans— requires a balanced state budget that protects all citizens from repaying future overspending by irresponsible state politicians. Living within one’s means is a matter of morality. Leave the children of Colorado a debt free future. Vote YES on Amendment 61! Do it for our children!
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