Way to look to the Future, Library Board Morons!

Submitted from a resident:

How many years will it take to pay off the library debt?  How many years will the library still be in existence?  Do the numbers add up? 

http://www.huffingtonpost.com/2011/11/16/can-the-american-library-_n_1096484.html?icid=maing-grid10%7Chtmlws-main-bb%7Cdl15%7Csec1_lnk3%7C113415

In the article above, you will see the following:

These days, the library's very existence is a question mark, and they face some of the steepest budget cuts in history. According to a Harris/Reader's Digest Poll from late 2010, nearly 40 percent of American mayors plan to reduce hours, shed employees or make other cutbacks in the coming months, while many county libraries have already eliminated branches entirely.

Who exactly is to blame, the communities or the libraries themselves? And what will be lost if the library fades into obsolescence?