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Show SPENDERS. Cities have embarked on another big spending jag. More municipal bond issues were authorized and sold during March than in any March since 1915. The total was over $88,000,000. Municipalities in our country are mortgaging the future, by new bonds, at the rate of more than $1,000,000,000 a year. While a lot of this spending is for permanent public improvements, the expendi ture is far beyond what can be afforded. af-forded. It's like a man constantly spending more than he makes, and increasingly going into debt to pay the difference. A showdown is inevitable. in-evitable. Will it come in the form of a taxpayers' strike? |