PrintOctober 10, 2009
Island of fiscal sanity in Michigan
It's well known that the State of Michigan is on life support from the federal government. The situation is hopeless. Thousands are lining up for "Obama Cash." The state budget is a mess. State police have been laid off and school funding reduced. But, amidst the calamity, to the absolute horror of tax and spend democrats there is a shining example of conservative, republican, common-sense management: Oakland County. It's just had it's triple A bond rating reaffirmed!
Oakland County Executive L. Brooks Patterson announces that Wall Street has reaffirmed the county’s coveted AAA Bond Rating on $12.88 million in debt for the construction of the new 52-3 District Court building....
The AAA Bond Rating is difficult to retain in the current economy. Only about two dozen of the nation’s 3,000 counties have the AAA rating from multiple rating agencies. Oakland County has maintained its AAA Bond Rating since 1998 with sound fiscal practices. “The county will continue to adhere to its historically strong budget and management practices which have resulted in ample financial flexibility that positions the county well to manage current economic challenges,” Moody’s says.
Patterson, in the mid 1990's, reformed Oakland County's employee health and retirement plans. The county has also privatized many services, such as food at the jail. So don't tell the voters there that the only choices in tough times are higher taxes or cuts in services. Oakland county voters know better. It could be called the Miracle of Oakland County, the Greatest Political Story Never Told.
