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How stupid are the folks that run Los Angeles?
"After a week of dire predictions, city officials here said an unexpected $26 million of new revenue will help stave off an immediate fiscal crisis, but serious longer-term financial problems remain.
The windfall result of better-than-expected property-tax revenue and cost-saving moves couldn’t come at a better time. Earlier this week, Los Angeles Mayor Antonio Villaraigosa had warned that he might try to shutter some city offices two days a week in order to help bridge an estimated $222 million deficit in the current fiscal year, which ends June 30. The city's controller, Wendy Greuel this week also warned that the city had been set to run out of cash as early as next month."
The $26 million does not cover the $222 million deficit (though in government schools that might do it). The city will go belly up, just a couple of weeks later. By June 30 the city will be out of cash and out of reserves.
This is what a government run by Democrats looks like--out of money and not caring.
More...
"After a week of dire predictions, city officials here said an unexpected $26 million of new revenue will help stave off an immediate fiscal crisis, but serious longer-term financial problems remain.
The windfall result of better-than-expected property-tax revenue and cost-saving moves couldn’t come at a better time. Earlier this week, Los Angeles Mayor Antonio Villaraigosa had warned that he might try to shutter some city offices two days a week in order to help bridge an estimated $222 million deficit in the current fiscal year, which ends June 30. The city's controller, Wendy Greuel this week also warned that the city had been set to run out of cash as early as next month."
The $26 million does not cover the $222 million deficit (though in government schools that might do it). The city will go belly up, just a couple of weeks later. By June 30 the city will be out of cash and out of reserves.
This is what a government run by Democrats looks like--out of money and not caring.
More...