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Gavin Newsom, the pretty boy of politics went to Sacramento, leaving a bankrupt San Fran down the toilet.
"The financial plight of the city of San Francisco is so dire, says new Mayor Edwin M. Lee, that if around $300 million to $400 million in cuts to employee pension and health care costs are not achieved, the city could face bankruptcy as soon as five years from now.
Lee said that a $300 million to $400 million target for cuts is “probably not far off” from what needs to be done."
This is a union owned city--it is bankrupt--what else do you expect. When San Fran stops being corrupt, it might be saved--but I doubt it. It will take a complete collapse of the city before they do the right thing.
The city is already spending 33% of its revenues on pensions and health care. In a year or two, when revenues drop, the city will not be able to pay for libraries, cops or firefighters--maybe then the citizens will revolt.
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"The financial plight of the city of San Francisco is so dire, says new Mayor Edwin M. Lee, that if around $300 million to $400 million in cuts to employee pension and health care costs are not achieved, the city could face bankruptcy as soon as five years from now.
Lee said that a $300 million to $400 million target for cuts is “probably not far off” from what needs to be done."
This is a union owned city--it is bankrupt--what else do you expect. When San Fran stops being corrupt, it might be saved--but I doubt it. It will take a complete collapse of the city before they do the right thing.
The city is already spending 33% of its revenues on pensions and health care. In a year or two, when revenues drop, the city will not be able to pay for libraries, cops or firefighters--maybe then the citizens will revolt.
More...