Posted on 05/29/2010 2:21:38 PM PDT by TigerLikesRooster
I don’t understand it all that much, but I do know that with Vallejo it involved getting out of paying pensions that were crippling the city.
No money for police, fire, EMS, trash collection,
water, sewer, traffic lights, street sweeping,
city schools, school buses, homeless shelters,
gay pride parades, subsidized sports venues and
professional athletes, building inspectors, dog
catchers, park maintenance, city admin employees,
lawyers, politicians...I’ve probably missed something.
wow..that would suck.
I think that if a municipality goes bankrupt the state (of California in this case) takes over.
Anyone who knows better please correct me.
States cannot go bankrupt, but they can run out of money to pay the bills and the bonds.
You could see this coming for several years. San Diego couldn’t issue anymore bonds..even before the realestate bust. If they can’t make it..then the lesser endowed cities with more illegals and leeches will never make it.
Just as soon as one or more cities defaults on bonds it will be a mass exodus from them and then the cities will be in real trouble. Can’t borrow..can’t spend.
I don’t know if you understood me; I meant to say that if Antioch goes bankrupt, California takes it over.
I think.
The overpaid bureaucrats just cut the newest members of the union. Antioch is a blue collar town that is now a killing zone of blacks and Mexicans...
Liberals and unions at the controls for years, this is the ending.
The ultimate backstop of have unions approve bankruptcies to rob taxpayers of their un-earned fat wages and over-market pensions and healthcare plans.
I think the trash collectors are seperate from the city governments, thank God.
“Don’t worry. Walmart has lowered prices by 12 cents on their goods. All will be just great.”
LOL! That’s the spirit! :) (I don’t need a sarcasm tag, do I?)
Jeeze! I’ve never SEEN so many everyday people running around with their fingers in their ears and blinders on!
BUMP!
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