On 6/8/04 8:19 AM, "Victoria Heller" <[EMAIL PROTECTED]> wrote:
> According to the Minneapolis Comprehensive Financial Reports for 2002: > > Total debt service in 2002 was $210 million, up from $137 million in 2001, > an increase of $73 million, or 53% IN ONE YEAR! http://www.ci.minneapolis.mn.us/financial-reports/cafr2002/p142debt_totalGen Exp.pdf OK - so I took a look at this table on debt service. Vicky's right that debt service went up a lot from 2001 to 2002. What I think she failed to notice was how those debt service payments break down. Out of the total of $137 million that was paid in 2001, $44 million went to interest and $93 million went to principal. Out of the total of $210 million that was paid in 2002, $48 million went to interest and $162 million went to principal. I believe that's known as "paying down the credit card" and it seems to me that would be a good thing. Mark Snyder Windom Park REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
