Sheila Weinberg

Doubling down on debt, San Antonio bond will make poor city poorer

City Hall brags about a AAA credit rating while San Antonio’s per capita income ranks 460th in Texas, behind virtually every other large metro in the state. A proposed $850 million bond package will drive the poor city deeper into debt. The gold-plated credit rating contrasts with the city’s rising red ink. Truth in Accounting, a nonpartisan organization that analyzes public-sector finances, conservatively calculates the Alamo City’s debt at $1.2 billion, or $3,300 per taxpayer. Throwing some shade on City Hall’s shiny credit score, TIA President Sheila Weinberg cautioned, “Credit ratings have very little to do with a government’s ability…