Common sense is prevailing in Washington - at last.
Thanks to the President and leaders from both parties in the Senate and House of Representatives, a potential economic disaster has been averted. By extending debt limit increases to 2013, a cloud of uncertainty has been lifted from the economy. This is very good news for all those people relying on a stable provision of federal government services. Banks, businesses, and everyday Americans must have a predictable and reliable governmental partner to prosper and grow.
While a welcome relief to millions, this debt agreement is not a solution to the structural challenges facing our economy. Spending and revenue must come into balance if we are to succeed as a nation. I have great hope that a renewed spirit of bipartisanship will guide our national leaders as they approach 2013 and beyond.
On the local level, we have succeeded in achieving and maintaining a strong financial structure despite the economic uncertainty at the state and federal levels. We enjoy the highest possible credit rating - Moody’s AAA. We have been notified that our strong rating will continue even as many other cities and school districts face a worrisome credit watch on their ratings.
Since 1995, we have reduced our debt by 30 percent while maintaining an aggressive infrastructure replacement and rehabilitation program. Each year, we “right-size” our operations by evaluating the services we provide and how we provide them. Today the City operates with virtually the same number of employees as 1995 - despite a 10 percent increase in population and a proliferation of state and federal mandates.
Many of these simple local practices should be emulated by our leaders in Washington. At the local level we minimize the bitter partisanship and rancor by focusing on what is best for the people. We balance our budgets and submit to rigorous audits and public access and review of our practices and procedures. We are transparent and rarely allow party politics to be a motivating factor in local decision making.
The President, our Senators and House members, have an incredibly difficult job. But I am confident if they stay focused on job creation and doing what is best for the American people, we all will prevail in the face of a daunting economic challenge.
Source: BurnsvillePatch