Look for weasel bonds to become '08 staple

Publication: The El Paso Times

Charlie Edgren
January 5, 2008

This city can no more keep from raising your taxes than certain hunters can keep from clubbing helpless baby seals to death every year.

Taxing is a tradition, if you will, something ingrained, something that must be done whether it's needed or not.

Nationally, possibly the most egregious example is what's referred to as the "earmark" on the federal level of legalized robbery.

According to the Sunlight Foundation, a group dedicated to open government, an earmark is "... a line-item that is inserted into a bill to direct funds to a specific project or recipient without any public hearing or review." In other words, pork - pet projects of elected officials that will get them money or votes.

For example, a McClatchy News Service article Wednesday quoted President Bush as saying about the 2008 fiscal year spending bill he just signed, "I'm disappointed that leaders in Congress sent me a massive spending bill that includes about 9,800 earmarks." Bush noted that two of the earmarks were for a prison museum and a sailing school.

We can chuckle and shake our heads all we want about what goes on in Washington, but that's our tax money being wasted and we have no say in the process.

But how different are things here in El Paso?

Our taxing entities have their own version of the earmark, a WMD called the certificate of obligation. A general obligation bond has to be approved by voters, the way it should be. A certificate of obligation can be slipped through by government without you even knowing it, without you voting on the use of your money.

Taxing entities have many quasi-persuasive arguments to defend the CO, also known as the weasel bond for obvious reasons.

"We don't want to have to have an election every time we need to buy a fire truck or police car."

Well, then, budget for them in the regular budget, for which there are public hearings.

"It costs too much to have an election every time we need some money."

Well, then, apply some skill and forethought to the budget process and maybe you won't have to clean up "details" during the year.

We as taxpayers are responsible for the debt racked up by our governmental entities. We as taxpayers should have a voice - as in vote - in the adoption of more debt.

But the reason governments issue COs is because they quite simply - and frighteningly - don't want you to vote. They don't want you to have a voice in the taking and spending of your own money because they're afraid you'll nix their little projects and plans.

Weasel bonds are a classic example of taxation without representation (didn't that help fuel a revolution at some point?) and government in the dark. Ask local government officials if they support open government and they'll all look like bobbleheads nodding their eager assent. Then turn your back and they'll be passing COs like gas after the bean dip.

Do COs have a use? Yes, for emergencies. And that's it.

When your council members or commissioners or trustees or whoever use certificates of obligation, they are betraying your trust. They are patronizing you, the taxpayer, saying you don't have the sense or the ability to determine the best use of your tax money. It's classic government in the shadows.

And you're financing it.

Oh, and ... Happy New Year.

Charlie Edgren is editorial page editor for the El Paso Times.