Trenton water sale is fiscal foolishness

The classic analogy escapes me, but even in the coldest winter, no apple grower would cut down his apple trees for firewood, and only the most foolish among us would sell a cash cow for a short-term fix.

For generations, Trenton Water Works has been our cash cow, providing city budgets with surpluses and some of the lowest water rates in the state. To pawn it like our grandma's old earrings is to forever forfeit one of the last income-generating assets Trenton still owns. And, keep in mind that those in our administration trying to paint this sale as sound fiscal strategy are the same people who helped create our budget predicament in the first place.

While it may make political sense for our mayor to sell off our assets to buy some time, it is economic idiocy to forego the annual cash infusions that have helped keep our city afloat. Yes, the TWW sale will get us through the 2009 and 2010 budget cycles, but the proceeds will neither fix the underlying "structural" problems, nor cause our elected officials to come up with sound long-term remedies. The money will be gone, the exponentially more painful tax hikes will immediately ensue, mismanagement will continue and we will pay the price forever.

-- FRANK WEEDEN, Trenton

Times of Trenton, Sunday March 15, 2009