Quincy Quarry Weekly Fish Wrap: Mayor Koch keeps rolling the dice with taxpayers’ money

— News about Quincy from Quincy Quarry News with commentary added.

It’s not like I’m betting my ranch
A file photo

Quincy Quarry Weekly Fish Wrap: Mayor Koch keeps rolling the dice with taxpayers’ money.

In the wake of last week’s Christmas Miracle in May – the Quincy City Councillors pushing back against Quincy Mayor Thomas P. Koch’s latest godawful expensive as well as godawful ugly Edifice Complex, Mayor Koch withdrew his but down payment funding ask of $23 million on a sure to run over $200 million total cost project off of this week’s council meeting agenda so as to avoid suffering an official voting down of his latest grift.

Bombastic pastiche of banal bad taste bombs
A City of Quincy rendering

In turn, while Quincy’s vertically mayor will now not be able to score himself a sixteen-floor penthouse view of Houghs Neck and points north even if it is expected that he will try again later so score a high in the sky view, he stubbornly came back to the council this week with his Charlie Foxtrot of a hot mess Fiscal Year 2022 budget proposal as well as yet another bond debt funding ask for yet another Edifice Complex.

How bad was his budget proposal?

For starters, the budget was formally presented two weeks late even if it all but a very few of its line items were changed from last year’s budget line item amounts.

Voguing with City Workers with French Cuffs flying!
An old Facebook photo

In other words, no heavy lifting by the City of Quincy’s heavy to lift mayor.

Even so, the budget book was conversely rife with falsehoods, even per the mayor’s usual prevaricating.

For example, in the budget’s opening as well as all but assuredly designed to be mind-numbing opening narrative, the Koch Maladministration stated that the City of Quincy had a AA+ bond credit rating with a stable outlook per Standard and Poor. 

Negative, not stable
A Standard and Poor credit report image

Attached to the end of the budget book, however, is a copy of the most recent Standard & Poor credit rating report for Quincy and which clearly notes that S&P had assigned Quincy with a negative outlook.

One would think that if one was going to promulgate a falsehood that one would not so provide formal proof that the falsehood was, well, false.

Then again, we’re talking Team Joch doing about the only thing it does – well – well.

Also thoroughly suspect is Mayor Koch’s proposal to issue $475 million in municipal bond debt to fully fund the city’s currently woefully underfunded employee pension fund.

Doubling down to protect hack hires’ pensions?
A file photo

Reality: his grift of a scam will double the time of financing the current full-funding deadline of (most, ed.) city employees pension from 2037 until 2052.

In other words, the plan is ultimately no different than refinancing a mortgage with 15 years to go to a new 30-year mortgage and so kick the can down the road.

Way down the road.

Granted, the annual payment funded mostly by local taxpayers would so be lower, the annual payments would so go on for twice as long as well as entail considerable interest expense.

Up in smoke
A cheat-sheet.com image

Plus, as Quincy Quarry New’s ever-growing legions of loyal readers know, Quincy’s peerless mayor surely plans to spend at least most of the annual outlay reduction so grifted even if the number of years to cover the pension nut would double.

In short, Koch and mirrors Kochonomics seek to pick local taxpayers’ pockets yet again!

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