Tweet
Los Angeles has a deficit north of $400 million.
In two years, thanks to the explosion of the pension plans, the deficit could hit one billion dollars.
The LA Mayor, Phony Tony, spend more time on the school system than the City--but his was elected Mayor, not a school board member.
The city of Los Angeles is bankrupt, even they refuse to admit the truth (know many hack politicians willing to tell the truth?).
"When the Mayor and the Council say it would be worse for everyone if the City had to declare bankruptcy, is that code for "it would be worse for the political careers and reputations and egos of
the Mayor and City Council?"
For example, Chapter 9 bankruptcy allows cities to continue to operate while judges can explore ways to take big, iron-clad scissors and snap, cut and shred contracts and decisions that always were and are unsustainable, immoral and destructive to current and future generations of Angelenos. (I remind you that while some employees and retirees should never have gotten sweetheart deals at the expense of the taxpayer, other employees probably deserve a raise!)
I would prefer we not have to go through bankruptcy, but whether it's a sweetheart deal to developers, political fat cats, corporate creeps or union bullies, if it hurts the taxpayers (and my children's current and future quality of life), it's a sweetheart deal that needs a do-over."
Time for honesty in Los Angeles? Never happen.
More...
In two years, thanks to the explosion of the pension plans, the deficit could hit one billion dollars.
The LA Mayor, Phony Tony, spend more time on the school system than the City--but his was elected Mayor, not a school board member.
The city of Los Angeles is bankrupt, even they refuse to admit the truth (know many hack politicians willing to tell the truth?).
"When the Mayor and the Council say it would be worse for everyone if the City had to declare bankruptcy, is that code for "it would be worse for the political careers and reputations and egos of
the Mayor and City Council?"
For example, Chapter 9 bankruptcy allows cities to continue to operate while judges can explore ways to take big, iron-clad scissors and snap, cut and shred contracts and decisions that always were and are unsustainable, immoral and destructive to current and future generations of Angelenos. (I remind you that while some employees and retirees should never have gotten sweetheart deals at the expense of the taxpayer, other employees probably deserve a raise!)
I would prefer we not have to go through bankruptcy, but whether it's a sweetheart deal to developers, political fat cats, corporate creeps or union bullies, if it hurts the taxpayers (and my children's current and future quality of life), it's a sweetheart deal that needs a do-over."
Time for honesty in Los Angeles? Never happen.
More...