Monday, April 16, 2012

Dan Walters: Stockton not only California government in financial distress - Dan Walters - The Sacramento Bee

Dan Walters: Stockton not only California government in financial distress - Dan Walters - The Sacramento Bee

Mammoth Lakes, one of the state's smallest cities, is going through the same process as Stockton, having lost a big lawsuit, and if it can't work out a payment plan for the judgment, it's probably headed to bankruptcy court.
A number of school districts have been listed by the state as being in fiscal distress, some facing the prospect of state receivership. And cities large and small throughout the state, especially those that overspent housing bubble revenue, are likewise in trouble – including the largest, Los Angeles.
The city's top administrator, Miguel Santana, used the B-word this month as he reported a large and increasing deficit in the Los Angeles budget, terming it "crisis mode" that could require privatization of some city services, layoffs of employees and new taxes to relieve.
"We're facing the complete devastation of city services, including public safety," Santana told theLos Angeles Times.
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Thanks to Fred Pilot for this link. I was in Pasadena from Friday to Sunday for my mother's 90th birthday, and it is remarkable how successfully Pasadena has redeveloped its downtown. But as we can see, many California cities are in an increasingly desperate situation.

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