Delaware Democrat Senate Candidate, Chris Coons, Led His County To Verge Of Bankruptcy

From The Audacity of Hypocrisy:

Democrat Senate Nominee, Chris Coons, Led New Castle County to Verge Of Bankruptcy


Posted by adminSeptember 18, 2010While the Associated Press reports that Democrat U.S. Senate hopeful Chris Coons (D-DE) claims he “successfully restored his county to financial health and is ready to do the same for the federal government,” an examination of Coons’ record as New Castle County Executive shows otherwise.



In fact, by Coon’s own standard, he led the county from being “fundamentally sound” to the verge of bankruptcy in just four years, lamenting that the county was “18 months from being out of money” and “unable to operate.”



As New Castle County’s spending skyrocketed by 10 percent under Coons’ leadership, he shifted the burden for his irresponsibility to taxpayers with three massive property tax hikes of 5 percent, 17.5 percent and 25 percent respectively. In 2008, Fitch Ratings downgraded the county’s “rating outlook” from stable to negative because the county’s cash balances were decreasing under Coons’ reckless stewardship.



“Trailing by double-digits less than 60 days before the election, Chris Coons is desperately attempting to rewrite history and distract voters from his record of out-of-control spending and massive tax hikes as he drove New Castle County to the brink of bankruptcy,” said National Republican Senatorial Committee (NRSC) spokesman Chris Bond. “Delaware voters deserve more than the same reckless, failed economic agenda that Coons has promised to rubberstamp in Washington, and that’s why we’re confident they will elect a fiscally responsible Republican leader to the U.S. Senate this November.”



Background Information:



By Coons’ Own Standard, He Led The County From Being “Fundamentally Sound” To The Verge Of Bankruptcy



2009: “‘We’re 18 Months From Being Out Of Money — Unable To Operate, Not To Use The “B” Word,’ Coons Said, In A Reference To Bankruptcy. ‘That’s where we are, and it’s at a time when many families are struggling, and they’re looking to government to help them.’” (Jeff Montgomery, “Sobering Challenges Reflected In Speeches,” The [Wilmington, DE] News Journal, 1/22/09)



2005: Coons Called The County’s Economic Health “Fundamentally Sound.” “While the county’s economic health is ‘fundamentally sound,’ Coons said, there’s been a widening gap between expenses and revenues in the past several years. His proposals would help avoid a projected $152 million shortfall by 2009.” (Angie Basiouny, “NCCo Exec Proposes Reining In Spending,” The [Wilmington, DE] News Journal, 3/30/05)



Coons Increased Property Taxes Three Times As County Executive



In 2009, Coons Proposed A 25 Percent Increase In The Property Tax, The Second Largest Increase In County History. (Angie Basiouny, “Coons’ 2010 Proposal Hits Hard — And Broad,” The [Wilmington, DE] News Journal, 3/18/09)



In 2007, Coons Proposed Raising Property Taxes 17.5 Percent.The [Wilmington, DE] News Journal, 3/21/07) (Angie Basiouny, “17 Percent Tax Hike Proposed For NCCo,”



In 2006, Coons Proposed Increasing Property Taxes Five Percent. (Alison Kepner, “Residents Say Tax Hike Small, But Express Fears For Future,” The [Wilmington, DE] News Journal, 5/16/06)



Spending Increased During Coons’ Tenure In County Government…………….



Read the whole story at NRSC