Posted on 04/07/2010 2:42:04 PM PDT by blam
Los Angeles Is About To Go Bust
Mike "Mish" Shedlock
Apr. 7, 2010, 2:26 PM
Yesterday I noted L.A. Controller Says City Could Run Out of Cash by May 5
After raising taxes and fees, again and again and again, the city is broke and Mayor Villaraigosa is blaming the city council for not hiking fees yet again.
Having run the city into the ground, Villaraigosa calls for shutting down some city departments amid budget crisis
Los Angeles Mayor Antonio Villaraigosa called Tuesday for all city agencies -- except for police, other public safety and revenue-generating departments -- to close for two days a week starting April 12 because of the city's continuing budget crisis.
"We have to act, and we have to act quickly," Villaraigosa said at a press conference.
Villaraigosa's call comes one day after executives with the city's Department of Water and Power said they would recommend not sending a promised $73.5-million contribution to the city's beleaguered treasury because the City Council recently declined to grant a desired electricity rate increase.
Union contracts and pension benefits are the biggest city problem and Villaraigosa is ignoring police and fire departments, the worst problems of the lot.
[snip]
(Excerpt) Read more at businessinsider.com ...
Modern politics and government is a big game of let’s pretend. Let’s give people money that they didn’t earn and let’s pretend(or let them pretend) that they are prosperous and productive. Let’s force banks to give mortgages to certain people so that we can pretend that they’ve earned a house. Lets’ require minimum wage jobs so people can pretend that that are more productive than they really are. Affirmative action, government schools, subsidies, bailouts, taxes, government borrowing. It’s all an attempt at playing make-believe. It is childishness writ large and is doomed to collapse.
People care more about NCAA ball games on TV. TV controls the public.
Great post and all true.
Actually I care more about UEFA Champions League, but your point is taken.
The television mind control subsignal does not work on me because I’m colorblind.
You do know there’s a dem legislature out there - right?
Democrats are illiterate, arrogant, fiscally stupid and are ruining our nation for real now.
If they can’t manage their own fiscal affairs, they most certainly will go bust. And I’m opposed to U.S. taxpayers bailing them out.
Wanna bet?
I care more about NCAA basketball than the L.A. government for two reasons:
1) the participants are actually required to perform, and
2) the participants are graded by results.
Let them die in agony!
Most are well ahead of you if you're just getting started.
New York State is on the verge of bankruptcy, but I do not believe that NYC is on the brink. From what I understand, Mayor Bloomberg has made some tough and unpopular economic decisios, but so far NYC has remained solvent.
The big cities concentrate the liberal elitists and are bastions of Democrat voters. How could this happen with more geniuses per capita than all of ‘fly over’ country combined?! /sarc
Your money, TV viewship and cable bill keep the people who are screwing you and taking away your freedoms in charge. i.e. serfdom
Each month if you have cable/sat Tv you are giving CNN and their networks $3 even if you do not watch. Ditto ABC/Disney/and their other channels plus the profitable sports programming keeps em in business.
Sadly most Americans are incapable of connecting the dots.
Wait a minute. Can’tcha all just get along?
Near as I can tell, you've been acting the whole time!
Now, is this going to happen before LA falls into the ocean?
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