Yesterday was primary election day in Nebraska. Did you vote? I didn't think so. Less than 15% of voters turned out even though there were 79.3 million dollars worth of bond issues on the ballot for Omaha. What does that mean? That means that because all five issues passed, citizens of Omaha are now on the hook for another 79.3 million dollars worth of debt and they didn't even bother to go to the polls to voice their opinion.
When a city wants to raise, say $5,000,000 to buy new police cars for instance, there are two primary ways of accomplishing this. They can either hold a bake sale or they can issue bonds. Since bake sales rarely bring in more than $500, Omaha decided to go with bonds this time.
Bonds are really nothing more than IOU's . Investors buy the bonds in exchange for the promise of interest payments and all their principal back at a predetermined maturity date, usually 15-30 years down the road.
In our example, we are buying police cars. A police car has an average life of maybe two years before it is worn out because it is in use 24/7. In 2040, Omahans get to pay back the $5,000,000 they borrowed 30 years prior, for cars that went to the crusher 28 years ago. Ouch. Should have opted for the bake sale.
Back to my point. Only 15% of Omahans turned out to vote yesterday. Typically the folks that turn out for primary elections are the dyed in the wool Democrats or Republicans that will tromp through three feet of snow to vote because that is what they are supposed to do. And they Are supposed to do that. But so were you. Because your voice was not heard, our taxes will go up to pay for these bonds.
I was of the opinion that in a down economy, maybe this wasn't the optimum time to spend millions of dollars upgrading warehouses or city parks. I am quite certain I will hear people grousing about their local taxes in the coming year. I will not be a sympathetic ear.
People, at this point in history, YOU MUST ENGAGE politically. You Must be paying attention and participating. If you do not, terrible things will be done to how this country is ruled, dominated, taken over by power-hungry socialists. We are supposed to live in a small government republic with most direction coming at the state level. That is not what I see when I look out my window. Engage, people. Pay attention and learn the facts and let your opinions be known. It's time. It is your responsibility to do so.