Dear Editor,

Determining fact from fiction can be a daunting process, especially for someone in denial of Oshawa’s record high property taxes and record high debt.
Now then, let’s do some MBA basic arithmetic.
If you borrowed for a car (Camaro) $10,000 from a bank and the interest they charged you might be, for arguments sake, $1,000 then the money you owe to the bank is $10,000 plus $1,000 or $11,000.
Ergo, Oshawa’s public debt is $92 million plus interest plus Oshawa Hydro Utility’s mortgage of $23 million, which equals $150 million.
Given our approximate population of 150,000, Oshawa’s debt now totals $1,000 for every man, woman and child living in Oshawa.
Since John Gray, our bookkeeper, became mayor of Oshawa, our public debt repayment obligation has skyrocketed in seven short years from $12 million in 2003 to $150 million presently.
When on Oct. 25 Oshawa’s hard working, over taxed voters go to the polls, we hope they will make a historic decision.

Edward Kowalczyk
Co-chair Oshawa Ratepayers Association. 

Editors note: According to City of Oshawa staff, the City’s public debt is currently around $93 million, down from $94 million at the end of 2009. This is from audited financial statements. This number will be presented on the balance sheet at the next council meeting in September. Also, city staff say the Oshawa Public Utility Commission (OPUC) is a separate corporation in itself and is not affiliated with the city’s debt.
Staff say the $23 million was paid off when the company split ties with the city and is therefore not part of the city’s debt.