Where is the money


Has an excellent article by Mr. Kerry Diotte, columnist for the Edmonton sun, where Mr. Diotte questions the direction city council is taking with the taxed dollars of the Edmonton voter.  Just like I do. Of course some so named “reporters” would label such actions the lunatic rantings of a fringing writter, but of course we here know who the ture crackpot reporters truely are.

In Mr. Diotte’s article he shows how the current Mayor of Edmonton wants to borrow billions upon billions at current intrest rates, and how the current Mayor of Edmonton says how it will not be a burden to the overtaxed voter to do so.

Oh, how wrong that scamdelling of a Mayor of Edmonton is. Billions of dollars in loans causes hundreds of millions of dollars of intrest!

At just one poorcent intrest rates on one Billion dollars the intrest is a whoppingly large TEN MILLION DOLLARS PER YEAR!

Current intrest rates on loans are far above 1%, infact they are closer to 6 %

thats $$ 60,000,000.00 (Sixty million!) in intrest every year on every $ Billion borrowed!

And the current Mayor of Edmonton wants Edmonton to pay at least $300,000,000.00 (three-hundred-million dollars) in intrest per year to some bank, probably a foreign bank in Florida for his having to borrow 5 Billion to fix his costly mistake of not doing his job!!

My figures are just simple intrest rates, not the compound intrest rates that all loans are subjected to.

That three-hundred-million dollars per year ($300,000,000.00/y) is money that could be better spent on other priorities. Priorities like fixing and cleaning the roads, and low cost housing.

Edmonton does not need to be making a bank rich beyond belief.

For fiscal integrity in the Mayor of Edmonton chair, VOTE DAVE DOWLING