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For the last month Paul Coble’s been running a TV ad criticizing Congress for raising the national debt 50%.

Then, the other day, The American Foundations Committee (which is running an independent campaign supporting George Holding) ran an ad pointing out Coble has supported raising Wake County’s debt 93%.

Coble’s response: He told the press his votes to raise the county debt were something called ‘perfunctory’ votes.

Which turns out to be a pretty good example of ‘political spin.’

Here’s what happened: In October of 2006 Coble endorsed (
News and Observer, 10-16-06) passing a referendum to increase Wake County’s debt by $970 million. There was nothing ‘perfunctory’ about that. Coble supported adding $970 million to the county debt.

Later Coble, as a County Commissioner, also voted to issue the actual bonds that completed the borrowing.

Those votes to issue the bonds are what Coble is calling ‘perfunctory’ votes.

Another example: In June of 2009 Coble, as a Commissioner, voted to increase the Wake County debt $163 million by issuing ‘Limited Obligation Bonds’ – without a vote of the people. (Cite:
County Minutes, pages 5-8, 6-15-09). And in November of 2009 Coble voted to increase the county debt another $165 million by issuing more ‘Limited Obligation Bonds.' (Cite: County Minutes, 11-2-09, pages 7-8).

Those were not ‘perfunctory’ votes. Coble voted to increase the county debt by $328 million.

Then, later, Coble also voted to issue those bonds.

But, now, as if he never supported raising the debt, Coble’s telling the press all he did was cast ‘perfunctory’ votes to issue bonds.

Pure spin.

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Comments

Chris
# Chris
Thursday, April 12, 2012 11:46 AM
I'm voting for Holding, but this is silly. True, the County has taken on a lot of debt. That's the responsible way to pay for needed capital improvements by spreading out the payments over the lifespan of the improvement. If the commissioners had to pay for a new school out of taxes collected in the year it was built, out property and sales tax rates would be gyrating all over the place. The county's borrowing is for the same reason that you probably have a mortgage on your home.

That's a fundamentally different thing than what the Congress is doing, which is borrowing for annual expenses of the federal government. Effectively, they're taking out a home equity line to pay the electric bill. That sort of thing should be paid out of current revenue.

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