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California Bankruptcies are ONLY THE BEGINNING...
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[quote:Anonymous Coward 2637724:MV8xOTIzMjU4XzMyMTk3OTA2XzE0NjQ2MTM1] [quote:Anonymous Coward 8680692:MV8xOTIzMjU4XzMyMTk3NzQ4XzlEMkVBNDND] [quote:Ready2bugout:MV8xOTIzMjU4XzMyMTk3MDEzXzcyQzQ5Rjc0] The problem with American cities budgets is how FUCKING ineficient they are For example doing studies to see where to place garbage cans in parks. I know of a city lot that has over 50 vehicles rotting away, Garbage trucks, Utilitie trucks, Pick ups and they just buy new city vechicles every 2 years due to poor maintaince and let those vehicles rot. Overpaying for work that never gets done Putting up bullshit road signs that tell you how the money was spend. Than they wonder why they can't balance their budget. I've had stages in my life where finances were tough and guess what I stopped eating out, used coupons, bought in bulk to save and penny pinched These asshole complain about the budgets yet they make no changes to reduce consumption [/quote] Trust me. I know. I make those signs. $600-$900 each. They decide what they want. Allot X amount of cash, and then request bids. They "have to spend it". So they end up overpaying. The people have absolutely ZERO financial and budgeting education. [/quote] Thank you for baking me up. Everything has to be new nothing gets recycled and everything is a stupid lawsuit. Elementary schoools plant educational vegetable gardens but they can't eat their vegetables because of liability issues so instead they jsut poison thier students with mass product food. Whenever I see road work and see 2 people working and 4 just dicking around with stupid flags it gives the chills. Drive by any school and you have 20 crossing guards in each fucking corner. Ribbon cutting ceremonies and pictures of fat mayors with giant sciccors for their local newspaper for programs that tons of money is spend on and talked about than forgetten a week later. Just so much fucking waste. The state should have internal auditors from regular volunteer citizens auditing all these programs and every city budget including how much all these fat city mayors and councils get paid [/quote]
Original Message
NEW YORK (CNNMoney) -- San Bernardino became the third California city to file for bankruptcy in the past few weeks ... but it won't be the last.
Many municipalities in the Golden State and around the nation are struggling to cover their costs as the economic malaise continues to hurt tax revenue streams, experts said. This will lead to more municipal bankruptcies, which have been rare until now.
"This is not the end. This is the beginning," said Peter Navarro, business professor at University of California, Irvine. "As cities see it can be done and is being done, it will give them the idea to do it."
[
link to money.cnn.com
]
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