> Apparently my property taxes can't even cover the cost of pavement and water mains, and yet we just built a new school, and are in the process of planning a $

> Apparently my property taxes can't even cover the cost of pavement and water mains, and yet we just built a new school, and are in the process of planning a $20 million library From the link: "If they operated on accrual accounting -- where you account for your long term liabilities -- instead of a cash basis -- where you don't -- they would have been bankrupt decades ago" The PF analogy to what you're saying is "yeah I'm dipping into savings to make mortgage payments and need to replace my roof next year and repair a major crack in the foundation. But they let me open a credit card and get a loan for a car, so what's the problem?"