Milwaukee, Having No Budgetary Concerns, Moves Into Unsecured Lending

City to fund part of office building repairs:

The owners of a downtown Milwaukee office building will receive city financing to help with repairs – even though the comptroller’s office questions whether the funds are needed, and even as some aldermen fret that their decision could encourage other building owners to ask for cash.

“We’re setting a very dangerous precedent,” said Ald. Michael Murphy, one of two aldermen who opposed the financing plan.

Supporters say the project will make one of downtown’s oldest office buildings more competitive, while also breathing new life into an adjacent building that’s been empty for several years.

Oh, for Pete’s sake. Correct me if I am wrong, but aren’t these sorts of “initiatives” coming faster and more frequently these days? Are our municipal leaders that eager to hasten the death spiral of their cities finances? Yes, as long as the ultimate crash comes after the municipal leaders have moved onto state or national leadership positions, where they can control bigger economies and initiate bigger five year plans.