As many have predicted, most notably Comptroller, Darlene Green, the City of St. Louis has had its bond rating lowered once again. The obvious result of this action will be a higher cost of borrowing and fewer projects. Heaven help us if the interest rates go up.
Experts say a leading cause of this action was the funding of the Blues rehab to Scottrade Center. Again, Ms. Green attempted to block it but was unsuccessful.
These situations are bad enough if the money is spent for critical activities. It is horrible to spend it on helping a sports team, as much as I love hockey. Written by Paul Dribin