Stockton goig bankrupt
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Wow, I guess economy has been rough on everyone... including cities. Clickity![^] Most cities overspend anyway, so it really shouldn't be too shocking, although with the high taxes in California you'd figure they'd be doing better than other places. Instead, it's the other way around, they seem to be doing the worst.
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Wow, I guess economy has been rough on everyone... including cities. Clickity![^] Most cities overspend anyway, so it really shouldn't be too shocking, although with the high taxes in California you'd figure they'd be doing better than other places. Instead, it's the other way around, they seem to be doing the worst.
They also have higher expenditures. Plus, CA is also the place where the cost of the land is completely inflated, causing people to have mortgages they can't afford. When they lose their jobs, they are in no shape to pay anything (including taxes), so city budgets have major pit falls.
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They also have higher expenditures. Plus, CA is also the place where the cost of the land is completely inflated, causing people to have mortgages they can't afford. When they lose their jobs, they are in no shape to pay anything (including taxes), so city budgets have major pit falls.
I lived in the bay area a few years back, the cost of everything is inflated. They even failed to pay income tax returns one year... the whole state is screwed up financially.
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Wow, I guess economy has been rough on everyone... including cities. Clickity![^] Most cities overspend anyway, so it really shouldn't be too shocking, although with the high taxes in California you'd figure they'd be doing better than other places. Instead, it's the other way around, they seem to be doing the worst.
Not sure if you are aware, but Cook County (Chicago) is in debt $108b: The total figures translate into an average debt-per-household in the city of Chicago of $63,525, and $32,901 in the suburbs. http://www.cookcountytreasurer.com/NewsDetail.aspx?ntopicid=434[^] No possible way out of this mess, I don't see any level of taxation or austerity that can fix this.
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Not sure if you are aware, but Cook County (Chicago) is in debt $108b: The total figures translate into an average debt-per-household in the city of Chicago of $63,525, and $32,901 in the suburbs. http://www.cookcountytreasurer.com/NewsDetail.aspx?ntopicid=434[^] No possible way out of this mess, I don't see any level of taxation or austerity that can fix this.
WOW! ...I didn't know about that... I know about California because I lived there, so the money problems in the state have been going on for quite a while (at least 4-5 years).
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Not sure if you are aware, but Cook County (Chicago) is in debt $108b: The total figures translate into an average debt-per-household in the city of Chicago of $63,525, and $32,901 in the suburbs. http://www.cookcountytreasurer.com/NewsDetail.aspx?ntopicid=434[^] No possible way out of this mess, I don't see any level of taxation or austerity that can fix this.
Cut the budget by 10% Increase the income tax by 5% Introduce a 'New Build' tax of $10 per square foot on all new buildings Up GST by 1% Fire half the 'Managers' Salary Freezes for public servants That would be a good start.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] English League Tables - Live
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Not sure if you are aware, but Cook County (Chicago) is in debt $108b: The total figures translate into an average debt-per-household in the city of Chicago of $63,525, and $32,901 in the suburbs. http://www.cookcountytreasurer.com/NewsDetail.aspx?ntopicid=434[^] No possible way out of this mess, I don't see any level of taxation or austerity that can fix this.
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Cut the budget by 10% Increase the income tax by 5% Introduce a 'New Build' tax of $10 per square foot on all new buildings Up GST by 1% Fire half the 'Managers' Salary Freezes for public servants That would be a good start.
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] English League Tables - Live
Dalek Dave wrote:
Cut the budget by 10%
20% would be a good start, just no police or fire personnel.
Dalek Dave wrote:
Increase the income tax by 5%
There is no county or city income tax, only state. If there were county, even more jobs would move to the burbs (a significant amount are out of the county).
Dalek Dave wrote:
Introduce a 'New Build' tax of $10 per square foot on all new buildings
Nobody is building, and the ones that are, are using TIF (taxpayer) funds.
Dalek Dave wrote:
Up GST by 1%
Already the highest in the country.
Dalek Dave wrote:
Fire half the 'Managers'
75% would be a start.
Dalek Dave wrote:
Salary Freezes for public servants
Unfortunately, it's a Union town.
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Dalek Dave wrote:
Cut the budget by 10%
20% would be a good start, just no police or fire personnel.
Dalek Dave wrote:
Increase the income tax by 5%
There is no county or city income tax, only state. If there were county, even more jobs would move to the burbs (a significant amount are out of the county).
Dalek Dave wrote:
Introduce a 'New Build' tax of $10 per square foot on all new buildings
Nobody is building, and the ones that are, are using TIF (taxpayer) funds.
Dalek Dave wrote:
Up GST by 1%
Already the highest in the country.
Dalek Dave wrote:
Fire half the 'Managers'
75% would be a start.
Dalek Dave wrote:
Salary Freezes for public servants
Unfortunately, it's a Union town.
In that case, they are screwed. Still the unions will be happy when, instead of keeping the jobs with a pay freeze, they all have a pay rise, except the ones who will lose their jobs. Good Work by the Union Leaders! (Bloody communists).
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] English League Tables - Live
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The obvious solution is to package up the Chicago elites and send them to Washington. Oh wait...we did that.
And shipped em back, look who the mayor is: [^] Anyways, Barack had little to do with local city or county politics; he was a Senator (and supposedly did some charity or aide work, supposedly, and amatuer food reviewer: [^]). Most people around here don't look at him as a hometown guy, so it's funny that from the outside, people feel that way. Daley got this mess started and bailed when it got difficult to keep going.
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In that case, they are screwed. Still the unions will be happy when, instead of keeping the jobs with a pay freeze, they all have a pay rise, except the ones who will lose their jobs. Good Work by the Union Leaders! (Bloody communists).
--------------------------------- I will never again mention that I was the poster of the One Millionth Lounge Post, nor that it was complete drivel. Dalek Dave CCC Link[^] English League Tables - Live
The teachers went on strike because they didn't get a 24% raise: The district has proposed a five-year deal that guarantees teachers a 2 percent pay raise in the first year and lengthens by 10 percent the amount of time teachers must spend at school, from 7 hours to 7 hours and 40 minutes. The union wants a two-year deal that reduces class size and calls for teachers to receive a 24 percent pay raise in the first year and a 5 percent pay raise in the second year. Chicago public school students have the shortest school day – 5 hours and 45 minutes – among the nation's 50 largest districts, http://www.huffingtonpost.com/2012/06/11/chicago-teachers-union-ha_0_n_1586561.html[^]
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The teachers went on strike because they didn't get a 24% raise: The district has proposed a five-year deal that guarantees teachers a 2 percent pay raise in the first year and lengthens by 10 percent the amount of time teachers must spend at school, from 7 hours to 7 hours and 40 minutes. The union wants a two-year deal that reduces class size and calls for teachers to receive a 24 percent pay raise in the first year and a 5 percent pay raise in the second year. Chicago public school students have the shortest school day – 5 hours and 45 minutes – among the nation's 50 largest districts, http://www.huffingtonpost.com/2012/06/11/chicago-teachers-union-ha_0_n_1586561.html[^]
No wonder they're in trouble... 24% raise!?
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No wonder they're in trouble... 24% raise!?
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Wow, I guess economy has been rough on everyone... including cities. Clickity![^] Most cities overspend anyway, so it really shouldn't be too shocking, although with the high taxes in California you'd figure they'd be doing better than other places. Instead, it's the other way around, they seem to be doing the worst.
Thats what happens when Corporations heads run the country. If this trend continues total anarchy is not far away.
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Wow, I guess economy has been rough on everyone... including cities. Clickity![^] Most cities overspend anyway, so it really shouldn't be too shocking, although with the high taxes in California you'd figure they'd be doing better than other places. Instead, it's the other way around, they seem to be doing the worst.
From what I heard on the radio new station this morning, much of the problem comes from retirement benefits for city employees who were making out like bandits. :sigh:
Steve _________________ I C(++) therefore I am