Tweet
San Fran has a deficit of about $400million. It is racing Los Angeles to see which city will go bankrupt first. Former LA Mayor Richard Riordan has says LA will be bankrupt by 2014.
Looks like SF will win this race. "San Francisco’s pension fund for retired city workers is even worse off than projected. The city will have to contribute around $600 million next year to pay for pension costs." The city does not have the money to pay. The State will force hundreds of criminals on the city, with the city picking up the majority of the costs.
Will 2012-3 see the great city of San Francisco forced to declare the truth, it is bankrupt? Or is this the truth, "”It’s going to bankrupt the city, there’s no question,” said Adachi. “And what’s scary is that it’s going to happen within the next four or five years.” Either way San Fran committed suicide but refuses to admit it is about to die.
More...
Looks like SF will win this race. "San Francisco’s pension fund for retired city workers is even worse off than projected. The city will have to contribute around $600 million next year to pay for pension costs." The city does not have the money to pay. The State will force hundreds of criminals on the city, with the city picking up the majority of the costs.
Will 2012-3 see the great city of San Francisco forced to declare the truth, it is bankrupt? Or is this the truth, "”It’s going to bankrupt the city, there’s no question,” said Adachi. “And what’s scary is that it’s going to happen within the next four or five years.” Either way San Fran committed suicide but refuses to admit it is about to die.
More...