Michael Johnson: Burdening the future

Regarding the April 15 news article “NCSU and UNC look at 100-year debt option”: Our state universities want to borrow funds for 100 years because “UNC-CH officials estimate that they have a backlog of $650 million in building repairs and renovations, with 60 percent of buildings 25 years or older” – and apparently they have failed to properly budget for building maintenance over the past 25 years.

Imagine how it will be for our great-great grandchildren 75 years from now, who will have not only their own current building maintenance to pay for, but also three previous generations of it, because after all, buildings apparently last for only 25 years before having to borrow another $650 million to throw at them.

Voices of financial responsibility have long chided us over the immorality of burdening our children to pay for our current spending, and university officials appear to have taken heed: They propose to spread the burden more equitably over four succeeding generations.

This story was originally published April 18, 2016 at 5:06 PM with the headline "Michael Johnson: Burdening the future."