Budget crisis could push O.C., other localities into bankruptcy - Total Buzz - OCRegister.com: "Could Orange County go bankrupt again?
That’s the talk at the county Hall of Administration a day after voters resoundingly rejected a series of ballot proposals. As officials grapple with filling a $100 million hole in their general fund budget for the fiscal year 2009-2010, they are deeply worried that Gov. Schwarzenegger’s threat to borrow property taxes from local governments could tip them over the edge.
County CEO Tom Mauk said that if the governor goes through with his pledge, that could mean an additional $43 million taken away from the county government. And that produces a $143 million hole in the general fund, which is tough to fill without cutting local government’s main cost: public safety."
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Fred Pilot sent this, noting that it could lead to even more government privatization and/or reducing services to minimal levels--even policing?
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