Posted on 11/05/2024 10:48:33 AM PST by CFW
The City of Los Angeles is not only “broke” and has spent half its reserves this year, as reported by City Controller Kenneth Mejia in September, but now is seeking to borrow at least $80 million, and thus at least $20 million in additional interest to cover liability payouts from lawsuits.
“The City has spent $141 MILLION on Liability Payouts in the FIRST FOUR MONTHS of the new fiscal year,” said Mejia on X. “The City is looking to borrow $80M + pay additional interest up to $20M to pay liability payouts.”
“As we've mentioned before, if there is no plan to hold departments accountable for their liabilities or fund departments who have been chronically underinvested in thus leading to liabilities (e.g. infrastructure), the City will continue going broke,” continued Mejia.
Minutes after Mejia’s post, Los Angeles Mayor Karen Bass highlighted her efforts go secure more taxpayer support for the film and television industry.
(Excerpt) Read more at justthenews.com ...
The remaining tax-payers in California better get a second or third job. Their taxes are about to go up again.
The Demonicrats have brought this on themselves and others. The others should leave, so the Demonicrats can get what they completely deserve: utter chaos and destruction.
“...departments who have been chronically underinvested”
In the a**.
With a ten foot pole.
There is and will never be sufficient money for the circus of grift and incompetence of Dem-run cities.
That's how they refer to "sucking the lifeblood out of taxpayers like leeches."
But at least those tax revenues are going to the film industry, right? So they can produce more woke trash like "The Acolyte."
Regards,
Why can’t they just TAX the 2 Million Illegal Aliens in Los ANgeles to cover this shortfall?
When are we going to pull them out of their self make messes again?
I am reminded when other financially failed cities have had judges or judge appointed masters to set budgets and cut back on unnecessary services until such cities were on a sound financial basis.
It is time for tough love from Uncle Sugar.
Looks like the city ran out of other people’s money.
Bookmark
Not a problem. Gavin has trillions he can lend to them.
If Trump is president for four years, will he bail out CA?
I’m going to bed Democrat run cities is child’s play compared to most colleges and universities. The amount of bloat they have is insane
That’s what dumb people do when they are broke. Get another loan.
Give it back to Mexico, they won’t be able to tell the difference anyway.
More proo Gavin Nobrain should be running this country ... Bwhahahahahahaha
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