The city of New Orleans is trying something different to chip away at its budget deficit, auctioning off city-owned vehicles.
Veteran economist Dr. Greg Rice calls it a creative move, but one that won’t fully solve the city’s financial challenges.
“ It’s a noble effort and doesn’t cost taxpayers, but it’s not a cure for the deficit.”
Rice notes that while the auction may generate public interest, the impact is limited.
“Even if you sold everything the city owns, it would barely make a dent,” he says. “New Orleans is expensive to operate. We’ll still need other measures, such as reducing staff, consolidating offices, and potentially adjusting fees on city services.”
He emphasizes the importance of perspective: “These auctions are a great way to engage residents and give them access to things they might not normally see or buy. You could get a car, office furniture, or equipment but, the reality is, it’s only part of the solution.”
For residents who plan to participate, Rice has one key piece of advice: “Do your homework. Know what’s being auctioned, check the condition, and understand that while you might snag a deal, you’re also helping the city in a very small but meaningful way.”
He adds, “The auctions show that the city is exploring every avenue, and that creativity is admirable. But at the end of the day, New Orleans’ budget is complex, and these sales are just one piece of a much bigger puzzle.”