Free Republic 2nd Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $55,352
68%  
Woo hoo!! And we're now over 68%!! Thank you all very much!! God bless.

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  • Stockton not only California government in financial distress

    04/16/2012 9:48:24 AM PDT · by SmithL · 1 replies
    Sacramento Bee ^ | 4/16/12 | Dan Walters
    It's easy – justifiably so – to beat up on Stockton for spending itself into a fiscal hole so deep that bankruptcy may be its only course. City officials borrowed and spent heavily on a baseball park, a sports arena, a marina and other facilities in hopes of resurrecting a woebegone downtown, and simultaneously boosted their employees' salaries and fringe benefits. At the time, Stockton was seeing a surge of sales and property taxes from a housing boom and the city's politicians and administrators wagered, in effect, that it would go on forever. When the bubble burst, it was left...