assignment module 9

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Temple University *

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ECON 1101

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Economics

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Feb 20, 2024

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docx

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Uploaded by carlydphie

Pick one question on the ballot this fall for Philly voters (even if you are currently out-of-state and can't vote on these issues, as a Temple student you are still a vital part of the Philly community)! Identify the central issue at stake in the ballot question (one sentence) and then write your own personal position on the issue, whether you are for or against the measure (one sentence). For whatever position you choose, find 3 pieces of evidence supporting your position. The central issue in one of the ballot questions discusses whether Philadelphia should borrow $134 million to fund transit improvements, parks and sanitation. I think that the opportunity for improvement should always be taken. However, in our current circumstances, I do not think Philly should borrow the money for capital purposes. Philadelphia is in a $5.5 billion debt that will be paid through 2047. If Philadelphia were to borrow $134 million, this would add to the debt. Also, “‘Most Philadelphians aren’t experts on municipal bonds and there is rarely public debate around the bond questions, which always pass by large margins. Nor are the exact allocations are included in the ballot language, so it’s not very clear to the average voter what the money would go towards’” (Blumgart). With the amount of money that will be spent, I feel that voters should 100% be aware of what the money is going towards. If they are unaware of this, then I do not think it is the right choice to follow through with spending this money. Additionally, from the pandemic, officials were forced to “cut roughly $649 million from its fiscal year 2021 budget”. Corona has taken a huge toll on everyone. If we were not in a time like this, I would say that Philly should borrow the money. Overall, I think it is a tough choice to make based on our situation right now. Blumgart, Jake. “Ballot Question on Borrowing $184 Million for City Capital Needs.” WHYY , WHYY, 7 Nov. 2020, whyy.org/articles/ballot-question-on-borrowing-184-million-for- city-capital-needs/.

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