‘Time will tell’ for finances

Published 11:50 am Tuesday, June 7, 2016

Editor:

According to “Timberline Financial News,” credit card debt is reaching record highs.

The media outlet reports that “Consumers are once again carrying record levels of debt, according to the latest Federal Reserve Board report. The recent holiday season was not good for brick-and-mortar retailers … However, credit card companies saw the benefits of increased spending, which is represented by higher personal debt totals … Today, it is estimated that 25 percent of the population is at the verge of financial ruin.”

“As of December 2015 the total (personal) debt balances were $936 billion dollars. Over a 30-day period between November and December, consumers added $6 billion to their personal balance sheets. This debt trap is at risk of crumbling household financial stability that could occur from any number of financial events.”

Even though personal debt is at risk of “crumbling household financial stability,” a majority of members of the Buckingham County’s Board of Supervisors recently ignored such facts and passed a real estate tax rate increase of 10 percent. 

What is going to be the straw that breaks the back of the county’s financial camel? 

Time will tell, and that breaking point may be sooner than later.

Buckingham County residents, we need to wake up and let our supervisors know about our deep concern for the citizens’ financial welfare as well as the county’s financial future.

Fillmer Hevener

Buckingham