[whatexit]

This guy did very thorough homework on the problem.

http://golackawanna.com/stories/SCRANTON-FACES-TOUGH-DECISIONS,158542?search_filter=lewis&town_id=7&sub_type=stories

[P.O.E.]

Thanks for the link:

Obviously, governmental accounting is substantially different than financial accounting, but at the end of the day, you’re still looking at the same basic concepts. You’re still looking for a positive net cash flow. What I’m finding is that the city has not had positive net cash flow for quite a long time, and we’ve been borrowing and borrowing and borrowing and now we’re just in over our heads,” Lewis said.

In the financial world, one borrow's to make a future cash flow in excess of the debt service, usually by applying work, productivity, etc.

In the governmental world, one borrows to buy votes and skim in the present

[hal ogen]

Interesting article/analysis. So they pay the beginning firemen and police about 3 times what the average citizen there esarns. Great idea, no? These LIB asshats who run these cities are fully out-of-control. Detroit Jr is emerging. Anyone with a brain needs to leave the crummy city.

[hal ogen]

Interesting article/analysis. So they pay the beginning firemen and police about 3 times what the average citizen there earns. Great idea, no? These LIB asshats who run these cities are fully out-of-control. Detroit Jr is emerging. Anyone with a brain needs to leave the crummy city.