The City of Vallejo, Ca. has Filed for Bankruptcy, the first in the USA. Which city or state is next, I wonder ?? and are the workers in this city going to loose their pension fund because of this ?? Heard it live from cnbc business news.
Posts: 69 | Location: Chi-Town Area | Registered: February 20, 2008
Next will be Buffalo, NY. All the young tax payers are leaving. When you have no tax payers and old people that use tax dollars, it just doesn't work out for long.
I do not know a single person my age that really, really wants to be here. The ones that stay do so for family reasons or something along those lines.
Maybe not in the immediate future, but it'll happen.
"I have never let my schooling interfere with my education."-Mark Twain
Are you sure it's the first? In Michigan, we've had cities go into recievership, which is similar if not the same thing as bankruptcy.
The state takes over city finances and appoints someone who is able to close parks and libraries, tear up union contracts and do almost anything to get debts under control.
Wrong, VP Cheiny ! ( and I know my spelling sucks)
I guess now we know for a fact that you are too lazy to do any research. Too lazy to even research how to spell the Veeps name. BTW, The cyclone was indeed Bush's fault. Howard Dean has it all on video and Michael Moore is gonna make a movie about it.
"It is foolish and wrong to mourn the men who died. Rather we should thank God that such men lived." - General George S. Patton, Jr
I live in the Bay area and Vallejo is a joke. Too many government programs so the budget starts hemmoraging money quickly in thier fiscal year. I'm not against all government programs but if you have too many and you aren't a "tourist attraction" like many other places in CA that can generate consistant income then they are gonna keep facing this problem. I can't figure it out here. We pay rediculously high taxes, there are tons of people and tons of export yet every city's waaaaaay under budget. On top of that our gas prices are outta hand while California's demand for gas has DROPPED every month since the beggining of the year? There goes the theory of supply and demand. The nation's demand is still very high but CA's oil comsumption is regulated? It's laughable how bad we are getting screwed.
Posts: 88 | Location: Bay Area, CA | Registered: November 16, 2007
Every city worker lost 2 weeks pay to help pay for the mess (thank you Mr Dinkins) The interest rate on New York City bonds went to 7.5% and a special council took over the city.
Doc ***** Tobacco is a filthy weed, I like it...
SNOB Member 1033 1/3
Posts: 8680 | Location: New York City | Registered: May 02, 2002
Originally posted by SteveSur: I like George...let the flames begin.
Actually I don't think you'll see too many flames here. Bush has definately made mistakes as has all presidents. But the humor is this sentiment "Blame it on Bush". Many here realize that to blame the president for each and every of the nation's shortcomings is way to easy and not looking at the entire picture.
Posts: 88 | Location: Bay Area, CA | Registered: November 16, 2007
When I moved to NJ I certainly expected that NJ would be bankrupt the way the current Gov. is running the show. He almost bankrupt the state when he couldn't get a budget passed but then he made concessions and now the gaming and hospitality industry is trying to recover their losses.
