Stockton, CA on the brink of Bankruptcy

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The New Your Times is reporting on last nights Stockton City Council meeting where the message is basically that the “game is over” for Stockton. All of this comes on the heels of a real estate fueled spending binge that included a stadium, some historical refurbishment projects, and even a downtown restaurant that got a great deal on a lease.

Here is a link to the full story.

http://www.nytimes.com/2012/03/01/us/stockton-calif-moves-closer-to-bankruptcy.html?pagewanted=1&_r=1&src=rechp

3 COMMENTS

  1. It could easily happen right here in Evansville. There is a point where every individual in the local tax base must make a decision on whether the cost of local government has outstripped their ability or willingness to pay, or if they need to relocate to an area where the cost is lower.

    If you are an elected office holder who is spending like there is no tomorrow, then please understand that TOMORROW is when the bills come due.

    This community needs to heighten its awareness of what its public school corporation and the City of Evansville spend, and just how much of that spending is essential and how much is not.

    __

  2. The politicians answer is: C O N S O L I D A T I O N. Just increase the tax base with the hapless rural residents, and HOLA!! We have more money to heap on studies, consultants, and sure-to-fail projects.

  3. It can happen here in Evansville, Indiana. If the Ballfields that misguided DEMO and Republicans padded another $6 Million on a possible Bond….it was ONLY leaving more Bond use at ONLY $700,000 to use if there was a Vanderburgh County Emergency. I saw the meeting on WNIN TV and was astounded the locals in Public Office was possibly allowing this before the Public spoke up. It was absolutely the most Crazy thing, well a few other things lately, that the local Government was almost allowing. Yes, this could happen in Evansville, Indiana. The Current Administration one time state on TV, “We have “X” amount to spend in the Budget…”. THAT was creepy. The local Government should look at what is needed to SAVE the Evansville and Vanderburgh County Taxpayer. If they don’t know how to cut Expenditures, find a company, your Grandmother, who ever….they are always paying for Studies……find a group that can help you put NO Emotion on that decision. Sure, you know the folks you work with, but, the Taxpayers have had to deal with cut backs at work, loss of jobs, no more insurance or cut back, and some with no or little pensions left. It is a new day. Yes, the same thing can happen in Evansville, Indiana…..and, they wouldn’t know what hit. With the revitalization of Mt. Vernon, Indiana, and more subdivisions that may start, Finally, going up…these lack of wiz kids need to come up with a plan….the Tax Base ‘could’ be less in a short time coming. Hooray! for new jobs…but, this area has a LONG way to go, yet.

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