EDITORIAL
Uncle Sam, Font of Plenty,
Thanks To Printing Presses
Ain’t Uncle Sam great! At least his ability to print money.
After the year-long COVID pandemic, which cost Otsego County government $10.6 million, the federal government is sending it $11 million.
That’s $400,000 in profit, from the greatest pandemic in 100 years.
The beauty of it is county government, under the guidance of brainy Allen Ruffles, the county treasurer, had already taken steps to stem the bleeding.
The Ruffles Plan, incorporated in the 2021 county budget, borrowed $4 million at historically low interest rates, then fast-tracked road work this spring — the one area where Albany is still providing reimbursement.
When all is said and done, the county reps may be able to consider a wish list, one being an energy-efficiency upgrade at all county buildings.
The only downside is 50 percent of the money is coming this July, 50 percent next July. There’s many a slip…
Nationally, of course, the so-called American Rescue Plan cost $1.9 trillion, with no new revenue stream to pay for it.
Ain’t Uncle Sam great! He can simply print more money.