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alstry (34.92)

Will EVERY City in California get ZOMBULATED!!!!!!!!!

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June 09, 2009 – Comments (8)

Oakland city officials have discussed the possibility of declaring bankruptcy to deal with the city's massive budget deficit, according to the Chron. The idea has some merit, especially if the $67 million federal grant for policing doesn't come through. Oakland's main problem is high employee salaries and benefits that it can no longer afford, particularly in the police and fire departments. But the city can't cut worker compensation significantly without union approval. As a result, Oakland may be forced to lay off large numbers of people and make painful cuts in services. In fact, without the federal grant, Oakland may be have to lay off more than 200 cops, which is untenable in a city with so much crime. But bankruptcy could change that, allowing the city to get out of burdensome union contracts and avoid more layoffs and service cuts.

But there's a big downside to bankruptcy. It carries the stigma of failure, and it will further erode the city's reputation and its financial standing. As a result, the city shouldn't seriously consider filing for bankruptcy — unless that federal grant doesn't come through. The city should know the answer to that question in late August or early September.

http://www.eastbayexpress.com/blogs/oakland_considers_bankruptcy/Content?oid=1000180

Federal Grant???....THE FEDERAL GOVT DOESN'T HAVE THE $$$ IF THEY TAXED US 100% OF OUR INCOME!!!!

IF THEY TRIED TO BORROW TRILLIONS THAT EVERYONE KNOWS DOESN'T EXIST.....INTEREST WILL GO OVER 20%....

YOU GUYS BEGINNING TO SEE THE PROBLEM YET.....

8 Comments – Post Your Own

#1) On June 09, 2009 at 2:52 PM, millionby24 (< 20) wrote:

OP knows nothing.

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#2) On June 09, 2009 at 2:53 PM, alstry (34.92) wrote:

PLEASE ELABORATE.....

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#3) On June 09, 2009 at 3:02 PM, goldminingXpert (29.37) wrote:

Poster in comment #1 knows far less than nothing if OP knows nothing.

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#4) On June 09, 2009 at 3:06 PM, catoismymotor (51.71) wrote:

California would not be in this position if it had more BRAINS!

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#5) On June 09, 2009 at 3:06 PM, millionby24 (< 20) wrote:



Obviously 140 grand ahead of #3


but its cool, i'll just go buy a house with that 99.999999 CAP POINTSSSS




Who knows nothing?


I dont care enough to explain myself to kids online

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#6) On June 09, 2009 at 3:07 PM, 100ozRound (29.40) wrote:

And down here in San Diego, we've been dealing with a budget deficit for years that is being worsened by the expanding pension shortfall.....And I've heard nothing of a Federal Grant for San Diego (unless you want to count the $15.7 million to address San Diego's homeless population)

 

But nobody's talking about that....

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#7) On June 09, 2009 at 3:16 PM, scorp1us (< 20) wrote:

Being homeless in San Diego is better than house-living in most places in the US.

 

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#8) On June 09, 2009 at 4:01 PM, kdakota630 (29.46) wrote:

Forgive my ignorance, but what is the "OP" that you guys are referring to?

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