Grand Junction Sales Taxes Down

The city came out with their sales tax figures and I just wanted to note a few things I read that bugged me:

First off I need to say I HATE IT when anybody gives statistics using percentages. It is doesn't tell you the whole story. For instance lets say you have 100 bucks and it loses 10% in April. That means you have 90 bucks now. The next month you have the same 90 bucks and in grows 10%, now you have $99. It was the same 10%. But you lost a buck.

With that said it was stated in the Daily Sentinel that the city is down 37% in sales tax collections for the year. They also said that the city has made 6 million dollars in cuts to the budget. That happens to be about 4% of the city budget. So common sense tells me the city might be a little over budget by the end of the year. Or the other possible thing that it could be is that the city was collecting too much taxes when things were good. Does the city have a "rainy day fund"? I do not know.

I also saw that Jodi Romero stated that “We’re hoping we’re bottoming out now”. She also stated that “We’re optimistic that some of the retail spending will begin to recover,” Romero said, adding that she hopes that by the end of the year it will equal 2008 levels.

So I guess the Presidents economic policy of hope has worked its way to the city governments now.