But it doesn't look too promising.
But it doesn't look too promising.
ANTONIO vILLARAIGOSA
Los Angeles teeters on the brink of bankruptcy
April 30, 2012
By Brian Calle
Taxpayers in Los Angeles are facing a major crisis if Mayor Antonio Villaraigosa and other officials do not begin to address the systemic, structural issues putting the city on the fast track to economic upheaval. The situation is similar to that in other California cities such as Stockton and Vallejo.
Much ado has been made about the city’s projected $238 million budget shortfall for fiscal year 2012-2013 and the mayor’s proposal to cut jobs and tinker around the edges of pension reform. But the picture is much grimmer than a single year’s budget shortfall
http://www.calwatchdog.com/2012/04/30/los-angeles-teeters-on-the-brink-of-bankruptcy/
