Over Past 10 Years, Bethlehem Has Cut Debt Nearly in Half

Many years ago, I sat in the conference room of then Bethlehem Mayor John Callahan's office. With the sun basking behind him, he told me that he was working hard to reduce the City's long-term debt. He was spending money that could be used for many other things in what essentially is a fiscally conservative move. I thought this was a pipe dream. Even if Callahan focused on reducing long-term debt, which no one really notices, his successors would quickly borrow to avoid tax hikes. But they didn't. Bob Donchez and Willie Reynolds, who followed Callahan, have continued this commitment to debt reduction. 

Over the past 10 years, Bethlehem's long-term debt has gone from $171 million in 2015 to $88.5 million today. Mayor Reynolds plans to knock it down even more, to $56 million by 2028.

Let me remind you that Reynolds, Donchez and Callahan are all Democrats. But this kind of fiscal conservatism is worthy of Elon Musk, Vibek Ramaswamy and anyone who considers himself a Republican. 

You can say what you will about Willie's budget or his policies as Mayor, but his commitment to reducing debt is a very positive and fiscally prudent move that benefits the city residents over time. 

I'll have more about Bethlehem's budget in the coming days.