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It Begins: Cash Strapped Cities Begin To Crumble
The Business Insider ^ | 2-4-2010 | John Carney

Posted on 02/04/2010 9:45:28 AM PST by blam

click here to read article


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To: Texas resident

“Arm up guys.”

I now see another use for my tax return. Thanks.


21 posted on 02/04/2010 10:20:30 AM PST by gathersnomoss (General George Patton had it right.)
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To: Ruy Dias de Bivar; Celtic Conservative

Isa 13:21 But wild beasts of the desert shall lie there; and their houses shall be full of doleful creatures; and owls shall dwell there, and satyrs shall dance there.


22 posted on 02/04/2010 10:21:21 AM PST by Ruy Dias de Bivar (GP-35)
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To: Celtic Conservative

“I live near Detroit, where it “began” a long time ago. The only difference between Detroit and a third world country is that there are no goats roaming the streets.”

As they say in Jamaica... “soon com mon”

They got goats everywhere they are controlled by “eating them”


23 posted on 02/04/2010 10:24:09 AM PST by primatreat ( "O" time has run out.)
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To: blam
"asset sales"

That's the worst part of that story right there. NOT AN OPTION. They can't sell the American peoples' infrastructure. They do NOT own it.
24 posted on 02/04/2010 10:26:51 AM PST by chuck_the_tv_out ( <<< click my name: now featuring Freeper classifieds)
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To: blam

Funny how they were unable to calculate the operating and debt cost for an incenerator. Shoosh, more northeastern ivy leagued geniuses. Hey festus, lets go buy ourselves an incenerator. A what? An incenerator. You mama already has one, its in the sink.


25 posted on 02/04/2010 10:34:13 AM PST by equalitybeforethelaw
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To: blam

Strange... all of them have had a Dem government for the past 30 years... /s


26 posted on 02/04/2010 10:34:59 AM PST by pabianice
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To: Texas resident

Agreed, and I’ll remind you that not only did “The marxists in our govt (pay) close attention to New Orleans after Katrina,” the LA governor prohibited aid and ice and food trucks sitting on the LA border after discussion with the DNC.


27 posted on 02/04/2010 10:36:52 AM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: reaganaut1
I don’t understand how debt service on a waste incinerator for a town of 47,000 can be $68 million. How much does a waste incinerator cost? I would have guessed less than $68 million dollars, especially for a moderate-sized town.

Well, there were some customary administrative expenses.

28 posted on 02/04/2010 10:37:53 AM PST by NaughtiusMaximus (Science:exploring the mystery of universe. Scientism:wearing labcoats and getting grants.)
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To: reaganaut1

There has to be more to this story. ‘Debt service’ is a fancy way of saying ‘interest on a loan’. Who sold these muni bonds? What is the interest rate? How much was the incinerator? 68 Million for debt service for an incinerator for a town of 47000? This is an insane amount of money to owe for a town this size.


29 posted on 02/04/2010 10:40:25 AM PST by sportutegrl (VETO PROOF MAJORITY)
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To: chuck_the_tv_out

“They can’t sell the American peoples’ infrastructure. They do NOT own it.”

Suggest you remember your Kelo. Nothing sits on that property now.....


30 posted on 02/04/2010 10:40:32 AM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: NaughtiusMaximus
I don’t understand how debt service on a waste incinerator for a town of 47,000 can be $68 million. How much does a waste incinerator cost? I would have guessed less than $68 million dollars, especially for a moderate-sized town.

It's the real life version of the Springfield monorail.
31 posted on 02/04/2010 10:41:21 AM PST by aruanan
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To: blam
Ironically, the debt burden that is trashing Harrisburg was incurred to build a waste incinerator.

No doubt due to oppressive EPA regulations and other assorted pressures from the envior-wacko faith.

32 posted on 02/04/2010 10:41:58 AM PST by TChris ("Hello", the politician lied.)
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To: blam

Do governmental units ever get to that point of desparation where they say we will cut our spending to the level of our income and just do it? Maybe say we are rolling back our appropriations to the 2003 Budget or something like that.


33 posted on 02/04/2010 10:42:35 AM PST by scannell
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To: blam

Actually most cities could start to step out of this trap by ditching the irresponsible pension plans which they are obliged to support for their unionized gubbermint employees.

Word needs to get out that you can’t retire from your job as a sanitation worker or bus driver at full salary and with full-paid healthcare at age 55.


34 posted on 02/04/2010 10:43:14 AM PST by Buckeye McFrog
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To: goldstategop

I would like to point out that that bankruptcy was brought about by Robert Citron the only Democrat to hold office in otherwise Conservative/Republican Orange County at the time.


35 posted on 02/04/2010 10:43:22 AM PST by SoCal Pubbie
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So, if the present administration, Reid and Pelosi’s Senate & House, purposefully tank the economy and backstop all mortgages, then default on America’s debt, it’s a run on America...with the Chinese Communist/Saudi/Soros/Russian cabal calling ‘the note.’

This isn’t going to end well.


36 posted on 02/04/2010 10:44:39 AM PST by combat_boots (The Lion of Judah cometh. Hallelujah. Gloria Patri, Filio et Spirito Sancto.)
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To: sportutegrl
There is a little more information in an article here. The outstanding debt on the incinerator is $288 million. It does appear that the incinerator is supposed to serve the region, not just Harrisburg, but the cost still seems exorbitant.
37 posted on 02/04/2010 10:45:37 AM PST by reaganaut1
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To: blam
Oklahoma’s budget has country’s biggest deficit

Only a few months removed from being declared "recession-proof” by national media, Oklahoma faces the largest state budget deficit in the nation, according to a report given by the National Conference of State Legislatures. Advertisement

The conference’s November update of state budgets says Oklahoma’s 18.5 percent shortfall for the current fiscal year edges out Arizona’s 18 percent, with Illinois, at 16.5 percent, in third.

http://newsok.com/oklahomas-budget-has-countrys-biggest-deficit/article/3426247

38 posted on 02/04/2010 10:47:08 AM PST by dragnet2
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To: econjack

>> Typical response: raise taxes.

Typical Democrat response.


39 posted on 02/04/2010 10:47:24 AM PST by Gene Eric (Your Hope has been redistributed. Here's your Change.)
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To: goldstategop
Oklahoma’s budget has country’s biggest deficit

Only a few months removed from being declared "recession-proof” by national media, Oklahoma faces the largest state budget deficit in the nation, according to a report given by the National Conference of State Legislatures. Advertisement

The conference’s November update of state budgets says Oklahoma’s 18.5 percent shortfall for the current fiscal year edges out Arizona’s 18 percent, with Illinois, at 16.5 percent, in third.

http://newsok.com/oklahomas-budget-has-countrys-biggest-deficit/article/3426247

40 posted on 02/04/2010 10:47:58 AM PST by dragnet2
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