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— Quincy Massachusetts News by Quincy Quarry News – News, Opinion and Commentary.
The City of Quincy was hit with a credit rating cut by Standard & Poor last week, something which the Koch Maladministration then did not duly acknowledge but which now as well as yet again Quincy Quarry News now breaks this latest scoop of breaking badly badly bad news© to break upon long-suffering Quincy locals who are going to be stuck with paying for this latest maladministration Q-up.
Ruh roo !!!
Image of Standard and Poor’s press release
LOOK OUT BELOW!!!
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Specifically, while the rating cut as well as no mention of if by the Koch Machine were not surprises to the Quincy Quarry News’ Financial and Other Sordid Affairs Desk, local residential property taxpayers are still concurrently looking at having to cover increased debt service costs given the cut to the City of Quincy’s credit rating.
Even worse, there is a fair chance of likely yet another rating cut to soon enough follow depending on how Quincy Mayor Thomas addresses over $9 million in unpaid obligations due and payable during just ended Fiscal Year 2025.
Will angry taxpayers soon to be inflicting payback?
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Further there are at least $31 million more in FY 2026 financial obligations that were not funded via the recently approved Fiscal Year 2026 budget nor could they otherwise be covered via the city’s woefully inadequate reserves.
Then again, what is a lousy $40 million or so more further dunned upon long suffering local taxpayers on top of the many hundreds of millions of dollars bills that have been dumped on them by its now unarguably overly long ongoing as well as profligate mayor.
Well, for starters, another $40 million.
I ask where was the oversight? The job of the council is to review and deny or approve spending approvals. The long term councilors (DiBona, Harris and McCarthy) have NOT ONCE, denied one spending proposal from the mayor. Similarly, short-termers (Devine and Campbell) were elected by Koch and his machine will never vote in opposition to any of the Mayors proposals.
The blame for the downgrading of the city’s credit rating does not totally fall on the mayor. The lack of leadership and respect of the position of the office of the council has resulted in the financial mess we are about to experience.
Please take a hard look at this year’s candidates and vote out the people who are more interested in boosting their own paychecks while placing undue burden upon local taxpayers.
Agreed and there is the opportunity to chose a candidate candidate in every ward as well as at-Large this election year.
Vote in a clean slate!!
And yet he wants to be paid a $400,000 year. He has given away the store to police and fire departments because his older son is a cop and the younger one a firefighter. Plus, many city employees donate to his campaign fund — in Quincy you get promoted in your city job by how much you and your family give. I hope the state does an audit of the city’s book. I heard the city could be put into receivership if the finances continue the way they have been going.
Andre,
Technically, the final figure approved for a raise for whoever is the mayor come 2028 was trimmed from a $400,000 tops ask to “only” $285,000 a year, not that our current mayor is worthy of his current $151,000 a year.
Some further good news, as far as the Quarry knows, the State Ethics Commission is still looking at how he grifted himself a raise in 2015 and the one pending come 2028.
In the meanwhile, do you have any idea how much it is worth to Koch in terms of campaign fund donations and votes to hire idiot sons-in-laws?