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News of Otsego County

the ruffles plan

Uncle Sam, Font of Plenty, Thanks To Printing Presses

EDITORIAL

Uncle Sam, Font of Plenty,
Thanks To Printing Presses

Ain’t Uncle Sam great! At least his ability to print money.

After the year-long COVID pandemic, which cost Otsego County government $10.6 million, the federal government is sending it $11 million.

That’s $400,000 in profit, from the greatest pandemic in 100 years.

The beauty of it is county government, under the guidance of brainy Allen Ruffles, the county treasurer, had already taken steps to stem the bleeding.

The Ruffles Plan, incorporated in the 2021 county budget, borrowed $4 million at historically low interest rates, then fast-tracked road work this spring — the one area where Albany is still providing reimbursement.

When all is said and done, the county reps may be able to consider a wish list, one being an energy-efficiency upgrade at all county buildings.

The only downside is 50 percent of the money is coming this July, 50 percent next July. There’s many a slip…

Nationally, of course, the so-called American Rescue Plan cost $1.9 trillion, with no new revenue stream to pay for it.

Ain’t Uncle Sam great! He can simply print more money.

32 Million From $1.9 Trillion Stimulus Headed Our Way

32 Million From $1.9 Trillion Stimulus Headed Our Way

Biden Makes Us ‘Whole’, Ruffles Says

By JIM KEVLIN • Special to www.AllOTSEGO.com

Ruffles

After a year of hemorrhaging losses, the Biden Stimulus Plan will make Otsego County government “whole,” according to County Treasurer Allen Ruffles.

“That’s what I would think,” Ruffles said, after reviewing the news he was planning to deliver when the county Board of Representatives met Wednesday, April 7, for its monthly meeting. “It would make us whole.”

In all, county government, towns, villages and school board are expecting about $32 million from President Biden’s $1.9 trillion COVID Stimulus Plan, signed into law March 11.

In January 2020, before the COVID-19 emergency, the county had put $4.8 million aside in savings. Soon, “that was gone, kaput,” he said. In the year since, the county gave up another $5.8 million in sales, occupancy and property taxes.

Total: $10.6 million. That means the so-called American Rescue Plan means the county will come out ahead by $400,000.

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