Bond debt equal to the Pima County annual budget – NO!
If voters pass Proposition 463, Pima County Administrator Chuck Huckelberry plans to return to the voters in 5 years and ask for another bond.
Ponzi schemes rely on seeking more “investors” to repay previous victims of the scheme. Eventually, the schemers run out of investors. As a Pima County taxpayer, you are an “investor” in the County’s Ponzi scheme. Unlike traditional Ponzi schemes, the County keeps returning to the original investors over and over again. With a declining population, the pool of victims is growing smaller. As a result, like all Ponzi schemes, the schemers will run out of your money and you and the schemers will be left with nothing.