Why you should vote NO on the new Library, on October 18: The economists on the CNBC business show have begun to admit that the economy is not in a “soft patch;” rather our current economic slowdown could last 10 years. Unacceptably high unemployment and underemployment is not going to improve anytime soon, because job creation is still not keeping up with new entrants to the workforce. And what about Seniors? Social Security income has not increased in three years – but medical insurance costs are climbing. Seniors count on bank CDs for income. But they are only paying 2%.
So Shrewsbury chooses this very difficult time to try to increase our taxes for a new $19M Library. Furthermore, they want to rush to start now, even though the contribution from the State won's come until 2014. Amazingly, there's a misstatement in the PRO argument we all received in the mail. They claim that a NO vote means that Shrewsbury will lose the State's contribution. A call to the Massachusetts Board of Library Commissioners will give the correct answer – the Town only needs to approve the project by 2014. Then there's their argument that today's construction costs will never be cheaper – not so if the economic slowdown lasts 10 years.
And, yes, for a Senior a 20 year Debt Exclusion is a Permanent Override.
Leo Feinstein
