What kind of society bestows huge amounts of debt upon their youth? The USA is $36 trillion in debt, $18 trillion of which was incurred during the most recent administration. Who can possibly pay this? Certainly not us senior citizens. It will be the burden of our children and grandchildren.
Such is the case for the Norwin School District. They are sitting on $101 million of bond debt. They pay almost a million dollars of interest per month. Zero dollars of principal is being paid! As it stands, the school board is about to incur another $30 million of bond debt. Who knows what that interest payment per month will be.
This takes Norwin ever closer to the $175 million bond debt limit.
While the children will get to play and perform in their future digs, they will have to move out of the district to avoid paying the piper, after graduation. No one will be able to afford Norwin.
There is no hope for the taxpaying citizens of Norwin. After the next election (no Republicans on the ballot), the board will be postured to finally reach the $175 million bond debt threshold. What will happen then?
Yep, it is indeed “for the children.”
Rich Walczak
North Huntingdon