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San Luis Obispo is the next county reporting it economic crisis.
"The Board of Supervisors has watched its work force dwindle by nearly 13 percent, from a high of 2,700 in 2002-03 to an expected 2,350 on July 1. And for the third straight year it is facing a budget deficit of roughly $20 million.
How did the county get into this mess?
The most common replies are the real estate downturn and the concomitant loss of property tax dollars, as well as the volatility of the stock market.
But theres another root cause: the countys pension system."
The good news is that they are cutting government back to the basics. The bad news is that they did not do this sooner. In Georgia there is a city of over 100,000 population--with only 14 government employees. That is the right model.
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"The Board of Supervisors has watched its work force dwindle by nearly 13 percent, from a high of 2,700 in 2002-03 to an expected 2,350 on July 1. And for the third straight year it is facing a budget deficit of roughly $20 million.
How did the county get into this mess?
The most common replies are the real estate downturn and the concomitant loss of property tax dollars, as well as the volatility of the stock market.
But theres another root cause: the countys pension system."
The good news is that they are cutting government back to the basics. The bad news is that they did not do this sooner. In Georgia there is a city of over 100,000 population--with only 14 government employees. That is the right model.
More...