While working at an engineering firm, I had to endure yet another annual review.
“Bell,” said the manager. “You’ve come to work every day, and you’ve completed your assignments on time.”
“Don’t forget that I also proposed suggestions for process improvement and organizational efficiency.”
“As you have,” said the manager. “That’s why I’m ranking you as ‘average’.”
“Why only average?”
“Because you’ve been doing exactly what you are supposed to do.”
All of my training, experience, and credentials failed me. My white privilege failed me, because the boss had more white privilege. Boatloads more. I couldn’t think of a response that would reward me with a desk a tad farther from the polar vortex spewing out of the HVAC system.
It’s the same way with MoCo’s recent renewal of a Triple A rating by the major credit agencies. Our county’s administration is supposed to provide prudent financial stewardship, and the credit agencies’ outside confirmation shows they are doing just that. Clean Slate MoCo has commented on frivolous county programs such as MOVE, JOBS, and Jawando’s menstruation bill; thankfully the amounts budgeted for those programs are effectively minuscule, presumably because there is some force restraining the County Council from jeopardizing access to cheap loans.
(Incidentally, Frederick, Howard, Prince George’s, and a total of 11 out of 23 Maryland counties have AAA ratings on their debt, and the state government also has a AAA rating, although with a negative outlook to sustain that rating. Overall, Maryland’s residents and governments show solid fiscal responsibility. Maybe there is a secret ingredient in Old Bay that is keeping us sane?)
What does the future hold? Unfortunately, interest rates are determined to a large extent by bureaucrats at the Federal Reserve who are as manipulated as they are manipulative. My YouTube feed says no matter who wins the next federal elections, budget deficits will continue and as a result we have either 1970s inflation or 1980s interest rates. Should interest rates climb, and the county wants to retain its AAA rating, then budget cuts will be necessary. That will pit the teachers union against everyone else, and history indicates that “everyone else” always loses.
Regardless, let’s congratulate our officials for securing a AAA rating—even though that’s part of their job.
Related posts:
Examining Nancy Navarro’s “Proudest Achievements” in Thirteen Years of Council Activity
On Top of Higher WSSC (Water) Rates, Higher Property Tax Rates, Montgomery County Residents Will See Electricity Rate Hikes Come October 1st
County Executive Praises “Good Financial News” & Dubious Bond Ratings as MoCo Loses Yet Another Brewery, Total Employment in County Remains in Stagnant