To the Editor:
I would like to add some thoughts to the ongoing discussions about the city’s debt. First, the City of Alexandria did much less borrowing in the ‘70s, ‘80s, and ‘90s and, as a result, they barely built anything. As of the year 2000, Alexandria hadn’t built a new school in 30 years and hadn’t built a new fire station in over 40 years. Alexandria didn’t invest much in
libraries, recreational centers, transportation improvements or sewers.
Alexandria faced a huge infrastructure deficit that the city has been working to overcome ever since. That has required increasedborrowing but, as Councilman Wilson’s recent letter pointed out, Alexandria’s debt is still less than that of our neighbors and within our conservative borrowing guidelines.
Just like at the federal and state levels, local government investment in needed infrastructure is one of the wisest investments those governments can make, and borrowing is a necessary and appropriate way to help pay for that investment. As the Center on Budget and Policy Priorities stated earlier this year: “There are sound reasons that states and localities borrow to pay for infrastructure, rather than use annual tax collections and other revenues. Public buildings, roads and bridges are used for decades but entail large upfront costs; borrowing enables them to spread out those costs. As a result, taxpayers who will use the infrastructure in the future help pay for it, which promotes intergenerational equity.”
It is totally reasonable to ask future residents of Alexandria to help pay for these investments. There are many examples of governments taking borrowing too far and burdening future generations too much. But we are far from that point in Alexandria. Instead, we are embarked on a prudent capital investment program that is reducing our infrastructure deficit and improving the quality of life for both current and future residents of Alexandria.
Timothy Lovain
Member of the Alexandria City Council