Understanding The

Consequences Of ‘No’

To the Editor:

I wanted to congratulate The Bee on the editorial “Yes Is Worth More Than No” regarding the town budget. It was well researched, well thought out and well written. I only wish that some of the key points made in the editorial were better understood by the voters prior to the first round of voting. Perhaps the budget would have been passed the first time.

And shame on those of you who continue to advocate for cutting the budget even further. Hopefully you read this editorial and now better understand that all you’ve actually accomplished is to lower Newtown’s bond rating, which is actually having the opposite effect of what you thought voting down the budget would get you. As the article points out, by refinancing existing bonds last winter at new, lower rates Newtown actually netted $1.6 million in savings — considerably more than the $1 million that those of you who voted against the budget think you saved us.

Our capital costs are now going to be higher, our tax reductions less, and our property value lower.

To paraphrase The Bee, the irony is that the word “Yes” on the budget is actually worth more to us than “No.” Our credit rating is going downhill thanks to those of you who voted No, so it is the No voters who are responsible for losing us millions of dollars in savings.

So, to those of you who have been opposing the budget, in the future, before you jump on a bandwagon you don’t understand, maybe you might do little research upfront to better understand the consequences of your ill-conceived campaign.

Robert Rabinowitz

Alpine Circle, Sandy Hook                                                 June 1, 2012