A major recession is coming and our nation will suffer. The government is spending way too much! Now the U.S Treasury recently decided to change the formula for the CPI (Consumer Price Index) to justify printing more money.
When will this end? The actions by our National government will trickle down into our states and ultimately hit and devastate our local cities and municipalities.
Knowing this…. It is time for our city of Coral Gables to tighten the budget. Lessen or even discontinue any unnecessary spending for the next 24-36 months
My promise to our city once I become one of our city's next commissioner is to immediately review current spending and expenditures to see where we can cut costs to increase our reserves. Any project that we can defer for the next 12 to 24 months will definitely be cheaper than if we invest today.
in the next 12 months, we should focus on strengthening our city's balance sheet; wait to invest in any large capital projects until the imminent recession passes.
If there are projects already underway, we should definitely commit to them. However, if there are contracts with the city where no work has begun, we should immediately cancel or defer those contracts and lessen our spending for the next 12 to 24 months. The cost of any capital expenditures will most likely be less costly to our city in the coming year.