Posted on 10/19/2017 9:36:34 AM PDT by matt04
If some more tax increases don't work, maybe a new busway and another minor league venue will fix all their problems.
President Hillary and the new Democrat Senate will bail them out, oh...
Hmmm, Democrat Legislature, Democrat Governor, Democrat-appointed Judiciary - what could possibly go wrong?
sarc/
Maybe they can borrow some money from Puerto Rico.
Sanctuary city—the bondholders need to say “no”.
Quick Google search revels that Caa3 is defined as: “Default imminent with little prospect for recovery.”
In addition to the current liabilities, thank goodness they don’t have an NFL stadium to support..
2banana’s Rule:
Long term democrat rule + public unions + free sh*t army = misery, ruin and bankruptcy
The real solution for Hartford’s comeback:
1. Declare bankruptcy
2. Tear up all public union contracts and pensions
3. Ban all public unions
4. Throw corrupt democrat leaders in jail
5. Cut taxes to the bone
6. Watch city grow and blossom as working people and businesses flock there
States can’t legally declare bankruptcy - not sure if cities can not either.
Anyway - we NEED government bankruptcy / default.
There will be no change otherwise.
For anyone curious, Hartford’s 2018 budget runs to $613 million.
“States cant legally declare bankruptcy - not sure if cities can not either.”
Cities can and do declare bankruptcy. We’ve had several major cities here in CA go under. And they have had Bankruptcy Court sanctions that would have allowed them to give union contracts and PE pensions haircuts, but it each case thus far, they have somehow managed to exit bankruptcy without so doing. Stockton and Vallejo are examples. The open question is did they really fix their financial problems, or once again find a way to kick the can down the road? My bet is that they didn’t really fix anything, and that they will be back in bankruptcy again very soon, because in both cases, the city governments took the side of their employees instead of their taxpayers. Until governments become instruments to serve the taxpayers at reasonable costs instead of being jobs programs for “union DemoRATS,” there will be no real solutions.
I agree 110%, however the Dem leaders will do everything they can to save face and avoid it as long as possible, thus making the problem worse.
While Hartford is not in the same situation as Detroit, their bankruptcy has at least given them a chance to improve. Before bankruptcy they had soda cans as alarm bells in fire stations, beat up an unreliable fire trucks, police cars and ambulances. Now they have or are in the process of replacing most, if not all of their fleet so that if you need a engine or ladder the one that shows up can actually pump or raise the stick. There was a time when the Chief would have to specify they needed a ladder truck with working ladder, engine with a working pump, etc. to the scene or just the unit for hand tools/manpower.
Just raise taxes. Voila. Problem solved.
“Caa3” looks like “C+” and means “F”. :)
The only way to make it viable, might be to end all support for welfare there, so as to force all the welfare recipients to move elsewhere.
> Just raise taxes. Voila. Problem solved. <
Don’t be silly. Raising taxes is only half the solution. Back in January of this year Hartford declared itself to be a sanctuary city. Hartford needs to advertise this fact.
High taxes + illegal immigrants. Yep, that’s the ticket.
This is a big issue here in NJ, where the Dem candidate for governor criticizes the fact that we’ve been downgraded several times during Christie’s reign. Christie was one of the first to highlight the problem, and the Dem’s unspoken message is that he’ll tax the heck out of us to deal with the debt (he has already admitted he’ll raise taxes). The fact that he seems to be leading in the race shows how NJ is determined to follow CA and IL into financial ruin; it is even worse off than CA because it is very easy to circumvent a small state like NJ to get anything done. For example, when another Dem governor wanted to charge for saltwater fishing licenses, it only died when it became clear that people could easily fish from neighboring states instead - and this included NJ fishermen themselves.
I guess I should have put a sarcasm tag on my comment. :>)
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