Comment 56912

By bobinnes (registered) - website | Posted January 18, 2011 at 19:54:31

The premise of this article is wrong. We, in effect, DO NOT HAVE A FUTURE FUND! We spent the money long ago and now we owe about $400m on which we PAY interest at the going rate, probably 7% or so. The supposed FF only garners interest at the going rate, 1% (ONE percent) or so. Any sensible 12 year old will tell you to take the 50 million and reduce our debt and interest costs. Continuing to dangle the FF in front of developers'/politicians' greedy guts is too much temptation which only invites rashness. Collapse it and get immediate benefit by reducing our mortgage. This is a benefit to ALL Hamiltonians, not just to a few. The future will belong to wise hardworking peoples with whom we are supposed to be competing, not to foolish spendthrifts. Our job is to make future oriented products, not distracting entertainments. But first, we the people must stop this spending madness.

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