To the Editor:
As a resident and taxpayer of the village of Croton-on-Hudson, I’ve watched with interest the dialogue among the candidates for mayor and trustee, particularly in the area of fiscal health for our village.
Being part of the financial industry for the last 11 years and a CPA since well before that, I’ve seen what can result from a high debt load. In moderation, debt is OK. Most homeowners wouldn’t wait to save enough to buy their home with cash. But there’s a limit to how much debt is sensible, and so we try to keep our credit card and other debt balances low. For our village, no one is saying it is not prudent to use debt for vital projects with long-term value. No one is saying it is not prudent to take advantage of low interest rates when they exist. The issue is one of discipline, and knowing when enough is enough. READ MORE HERE http://www.crotonunited.org/blog-n/2015/10/29/our-village-debt-balance-has-increased-too-rapidly