Utah is about to experience a period of epic growth. Our state leaders are focused on this amid a great recession. After reading "My view: Five years of spending deficits is not fiscal conservativism" (Feb. 10), I find the writer lacks the financial background to understand how leverage is best used.
As a fiscal conservative, I want my taxes low and my government to spend wisely. Excessive debt is against good conscience, but even a fiscal conservative will see the wisdom in using low-cost leverage to plan for growth. Couples hope to get the lowest rate to purchase an affordable home. Businesses use low-cost leverage to pay for market expansion. Is it wise for our state to use this financial mechanism?
Our state avoids debt but not at the expense of planning for epic growth. If a mortgage is necessary to keep ahead of the growth, it's better to do it when interest rates and labor costs are low. This is what any business or family would do and I am glad our state leaders are doing it. Responsible management of government outlays is fiscally conservative and minor spending deficits now are more conservative than paying excessive growth costs later.
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