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Posted on 09/05/2016 3:14:33 PM PDT by NRx
...This city of 32,000 just south of Richmond is facing a financial crisis unusual for fiscally conservative Virginia — or any state. In at least the past four years, the city had spent all of its reserves and then kept spending money it didn’t have. It took out short-term loans based on anticipated tax revenue to keep paying bills.
When the loans ran out, it stopped paying. Some fire and rescue equipment has been repossessed. The city trash hauler is threatening to stop pickup. And lenders will not give Petersburg any more loans.
In his 46 years minding state ledgers in various roles, Virginia Finance Secretary Ric Brown has never seen anything like it. “As a rule, most Virginia localities are in pretty good shape,” Brown said.
What’s more, there is no mechanism in state law to help Petersburg — no provision for bankruptcy, no set way for the General Assembly to step in.
(Excerpt) Read more at washingtonpost.com ...
Borrow some loot from Chicago. They’ve got plenty.
[There’s the money quote.]
Or the NO money quote. ;)
Great scam our politicians have -spending our money to buy votes for themselves, so they can live the high life.
Not enough overseers on that plantation. Too many “citizens” on welfare. Not enough tax payers there. 80% Black means 80% not paying taxes.
[Some fire and rescue equipment has been repossessed.]
Uh oh, if rioters start burning buildings like they have in other cities......
Terry McClinton has asked the state government to look for ways to cut their spending across all agencies to meet an anticipated budget shortfall.
This did not happen during the McDonnell administration.
I remember Tim Kaine closing parks and DMV’s when he was governor to cover shortfalls during his tenure.
Because Petersburg has a predominant black population (which votes heavily Democratic), the city has been a Democratic stronghold. It is represented by Joseph Preston in the House of Delegates (63rd District) and Rosalyn R. Dance in the State Senate (16th District). Both Preston and Dance are Democrats. Six of the City Council representatives are confirmed Democrats including the mayor and vice-mayor. All the local constitutional officers are also Democrats. In 2008, Petersburg gave the second-largest percentage of votes for the Democratic presidential candidate Barack Obama than any other municipality in the nation
I hope St. Joes is OK?
Petersburg’s ethnic demographics tell you all you need to know.
http://petersburgva.usl.myareaguide.com/demographics.html
My father was employed in the area, lived in Petersburg for a few years in the early 70’s and back again for a few years in the mid 80’s. It’s been a pit forever.
Fang & I have been loading up and carrying our bags of trash
to the county collection center for 30 years. For our
compost, we have composted food scraps, etc. for all that
time; so very little stinky garbage. - We save our old
newspapers and take them to the local animal shelter from
time to time. (One shelter quit using papers; but the larger
shelter has kept accepting them.)
From wiki...
“Because Petersburg has a predominant black population (which votes heavily Democratic), the city has been a Democratic stronghold. It is represented by Joseph Preston in the House of Delegates (63rd District) and Rosalyn R. Dance in the State Senate (16th District). Both Preston and Dance are Democrats. Six of the City Council representatives are confirmed Democrats including the mayor and vice-mayor. All the local constitutional officers are also Democrats. In 2008, Petersburg gave the second-largest percentage of votes for the Democratic presidential candidate Barack Obama than any other municipality in the nation.[citation needed]”
Thank you. I nosed around the city internet site and couldn’t derive anything related to the political party of the mayor.
You may have found it in a city history site.
I appreciate you tagging me in on that.
Just noticed you mentioned you fond it on Wikipedia.
Great. Thanks again.
Democrat! Par for the course...
It’s not the color of their skin it’s the Democrat Party.
RICHMOND, Va. (WVIR) -
Governor Terry McAuliffe is warning Virginia lawmakers to brace for “tough decisions ahead” to address a budget shortfall.
The Democratic governor delivered remarks on the budget before the House and Senate money committees Friday morning.
The projected shortfall for the current-two year budget is $1.2 billion. That’s in addition to a shortfall of about $280 million carried over from the budget year that ended June 30.
McAuliffe says one reason for this is lower than expected income and sales tax revenue collections.
McAuliffe said the state will fill some of the gap in the current fiscal first year with about $125 million that was supposed to cover raises for state employees, teachers and other state-supported workers.
House leaders and the governor seem to agree already on avoiding cuts to education.
“We must have the courage to embrace innovation and to grow in new directions. We must move forward with our blueprint to develop a skilled workforce,” McAuliffe said.
State leaders are expected to draw on the roughly $378 million rainy day fund to help address the budget hole. Leaders are also concerned with the possibility of another wave of federal spending cuts in October 2017.
The Democrats own this mess.
Yep, they sure do.
[In 2008, Petersburg gave the second-largest percentage of votes for the Democratic presidential candidate Barack Obama than any other municipality in the nation.]
Ah, good. He’ll find a way to bail them out by printing some more fake money.
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