Posted on 03/22/2012 3:19:55 PM PDT by blam
CA owes a few billion, and hopefully most of the corrupt government, at the state and local levels will go completely broke due to being all consuming, controlling, bloated entities with tens of thousands of overpaid government employees.
Your Federal Government on the other hand is in the hole, about 14 TRILLION.
It takes 1,000 billion, just to make 1 trillion.
lol
The cities have been morally bankrupt for sometime, it is the way of things that fiscal bankruptcy follows.
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No kidding ,, the “old” Orlando Magic arena is going to be imploded in May ... it’s a fine building but the new one is nicer and the mayor put non-compete stipulations on the old arena so it “can’t” be used for anything worthwhile ...
Why am I PISSED ? because I’m about to be screwed ,, the bonds on the “OLD” arena aren’t paid off yet ... and the colatteral (and ONLY INCOME SOURCE FOR THE BONDS!) is about to be blown up ... I’ll be “asked” to make the payments on the “old” building though...
Oh Well , it’s only a few hundred million dollars ... nothing to see (why isn’t the mayor going to jail?)
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Any bets on which municipalities get bailed out and which ones don’t?
Which successful cities are run by Democrats?
Thanks for the ping!
Isn't California's 'solution' to have all students go to college free? And hope the rest of us are stupid enough to bail them out?
its insanity...
I reuse zipper lock bags.....so tearing down a building when you owe so much money on it just because you don't like it anymore does not sit well with me....
What I’d like to know is “who” is loaning money to these cities? I know they’re borrowing some from pension funds to pay pensions. Sorta’ like GM taking out a second loan to pay for the first loan. But some of these cities are borrowing elsewhere. Where are the loans coming from?
Are there any republican cities?
Not that it’s any of your damn business, but I take home less than $1500/month, and I put money aside for retirement by living well below my means.
So kindly save the “eat the rich” bull for your next Occupy meeting. Jackass.
Why did you ping me to this reply? I’ll thank you not to lump me in with the “overpaid government employees.” I teach for a living, and it just so happens that I do so as part of the state of Ohio’s university system.
Shame on you. Telling lies to children every day. (Just kidding)
Sometimes I even tell them that there’s no such thing as a free lunch! Doubleplusungood of me, I know, but I have to get my jollies somewhere.
And before anybody starts railing about weak-kneed public officials, just think of what it is to be a government of a city of 50,000 people going up against the SEIU. Think about refusing Federal funding, despite the strings, knowing that if you take the money for their "standard of whatever," you will probably lose an expensive lawsuit. It's just not that easy.
Anyone buying sovereign debt right now is asking to have their money taken.
With the ZIRP in place, might as well invest it in productive assets...like an oil well. Oh, wait, Bammy's in office.
Better yet, bury it in your back yard.
I agree with your point. I also wondered why the retired fireman could not make his house payments after the pension was trimmed.
What? He is retired and still paying off his house? That should have been paid off years ago.
Central Falls, RI
Language other than English spoken at home, pct age 5+, 2006-2010 70.4%
I wonder how much welfare is keeping this stupidity afloat.
>nobody is quite sure how to fix California’s rapidly deteriorating financial situation
A good start would be to deport the welfare sucking illegals.
And stop putting leftists in charge of workers income.
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