The Needy Won’t Go Away

Orange County supervisors made a tough but correct call Tuesday in supporting a five-year plan to improve the county’s credit rating. The supervisors agreed to inaugurate a $140-million fund that will be used for early repayment of some of the $800 million in bonds sold last year to get the county out of bankruptcy.

The fund will take away money that could be used in the near term for badly needed new buildings such as jails, a juvenile correctional facility and a new courthouse in South County. It also will divert money intended for the poor and ill, who were especially hurt by budget cutbacks after the bankruptcy.

The projects remain important, and eventually ways will have to be found to get them done. Unfortunately, the loss of $1.64 billion in the county-run investment pool more than two years ago drastically changed the financial picture. Voters’ refusal to approve a sales tax increase forced the county to mortgage properties and slash programs such as flood control, recreation and redevelopment. That has strained the county’s quality of life.

The county’s credit rating is such now that it is too expensive to borrow much more. Improving the rating will make borrowing cheaper. All of this is a reminder for those who would just as soon forget the bankruptcy that recovery is not free of pain and that the county chose a difficult road out. The supervisors, in addressing the concerns of Wall Street first, will need to keep in mind the people in Orange County who most need help.