Debt Growing Much Faster Than Population

The City Council and City Staff use the argument that the reason the city budget and debt is growing so rapidly is the city population is growing rapidly.  It is often cited that Georgetown is the 2nd fastest growing city over 50,000 population in the United States.

Lets look at the actual numbers over the last 10 years;

We observe that the compound average growth over the last 10 years is 3.68% per year. This means the population will double in 20 years.

Lets now look at the growth in debt;

The debt is growing at a 10% compound average growth rate over the past 10 years. This means the debt will double in 7.2 years at this rate. Or, the debt will increase approximately 6 times over the same 20 years that it takes the population to double.

Thus it is observed that the debt is increasing at a much faster rate than the population, and this divergence between debt and population is unsustainable!