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Los Angeles Is About To Go Bust
The Business Insider ^ | 4-7-2010 | Mike "Mish" Shedlock

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 ...


TOPICS: News/Current Events
KEYWORDS: bankrupt; busted; losangeles; taxes
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To: wac3rd

I think you spell it C O R R U P T I O N. We look and act like Mexico.


61 posted on 04/07/2010 11:40:49 PM PDT by SaraJohnson
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To: MplsSteve

Have you been to the Valley lately? It’s like a chocolate candy with a hard(working) chocolate coating all around, and a squishy center filled with gangs and illegals. But if you live in the rich chocolate coated hills, be ready for really FUN armed home invasions.


62 posted on 04/07/2010 11:44:52 PM PDT by Yaelle
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To: all the best

Exactly! Great post.

And what is this political correctness REALLY saying??? It’s saying “We don’t think you poor, pathetic brown people could ever earn anything on your own, so our low expectations mean we need to give you stuff out of sheer guilt. Pretend you earned this. We know you cannot possibly do it on your own.”

The worst kind of racism.


63 posted on 04/07/2010 11:47:15 PM PDT by Yaelle
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To: blam

I went to LA for a wedding last year. I had not been in the area for many years. I was in Camarillo which is a more affluent area. I was literally blown away at what a complete craphole the entire area had become. The infrastructure was old and decrepit. I couldn’t wait to leave.


64 posted on 04/07/2010 11:47:44 PM PDT by riri (III)
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To: BradyLS
That was the sharp, wizened, considered, SMART opinion right here on THIS Free Republic! Ya reap what ya sow!

A lot of us already apologized for our huge mistake. Crying UNCLE already!!!

65 posted on 04/07/2010 11:49:08 PM PDT by Yaelle
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To: Popman

Mayor Tony Villar has one man hired to carry his breath mints and the block that he needs to stand on for appearances.


66 posted on 04/07/2010 11:50:14 PM PDT by Yaelle
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To: Yaelle
A lot of us already apologized for our huge mistake. Crying UNCLE already!!!

Fair enough. I'll shut up about it! :-)

67 posted on 04/08/2010 7:38:43 AM PDT by BradyLS (DO NOT FEED THE BEARS!)
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