Is the current economic slowdown actually good for taxpayers?
Well, in one instance it is. The freeze in the credit markets is forcing many levels of government to delay issuing bonds (running up debt).
First, Wake County cancels a $454 million bond sale.
Now, the NC Turnpike Authority is unable to sell bonds to build new roads.
Here’s an idea, why don’t we just build what we can pay for in cash for a little while and see where that gets us. It’ll save the taxpayers a little more coin in not running up interest costs.