John Lorinc with Spacing:
An eagle-eyed Spacing reader wrote this week to point out that Mayor Rob Ford and his chief bean counter Mike Del Grande are relying on a $25 million draw against the city’s reserves to help balance the 2011 budget with no property tax increase.
Anyone who’s hung around the giant clam in recent years knows that when Ford and his merry band of waste-busters were in opposition, they railed loudly and often about the perils of reserve raids.
via LORINC: Even the right will raid the reserves « Spacing Toronto.
Miller did this too often as well, but then I don’t recall him both eliminating revenue sources and raiding reserves in the same year. To make an analogy: the 2011 budget is a bit like quitting your job then immediately spending a big chunk of your savings.
(For the record, I hate analogies like that. City finances are not the same as personal finances for about a billion reasons.)
Tags: budget