Houston’s incoming administration is inheriting a city stripped of cash; a city that consistently spends more than it collects in revenues, with its operational resources steadily cannibalized by increasing pension contributions. Houston’s fiscal worries are ripening at the worst time when its local economy is poised for an economic slow down in response to low oil prices. This is bound to translate into lower sales tax collections this year, most surely to be followed by lower property taxes within the next two years, if nothing changes.
Upcoming Credit Rating Downgrade
This is very likely to result in a credit rating downgrade at a time when Houston is in dire need of multibillion-dollar infrastructure investments, making borrowing in the capital markets costly....
Philip Farah, Managing Director, Blue Orange Innovations
Elena Farah, PhD, Social Impact practice lead, Blue Orange Innovations
Most people are familiar with the trajectory of digital evolution to date from Web 1.0 (a one way content distribution net) to Web 2.0 (interactive / social net) and possibly Web3.0 (where smart applications monitor data and make decisions as Human’s agents and in doing so interact with both Humans, other Apps or IoT-enabled Machines).... Click here to read the full article