(LA Times) Rising costs push California cities to fiscal brink

Facing the same financial stressors that pushed San Bernardino toward bankruptcy, cities across California are slashing day-to-day services and taking other drastic actions to skirt a similar fiscal collapse.

For some, it may not be enough.

San Bernardino on Tuesday became the third California city to seek bankruptcy protection in the last month and, while no one expects the state to be consumed by municipal insolvencies, other cities teeter on the abyss.

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Posted in * Economics, Politics, City Government, Consumer/consumer spending, Corporations/Corporate Life, Economy, Housing/Real Estate Market, Labor/Labor Unions/Labor Market, Politics in General, Taxes, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

One comment on “(LA Times) Rising costs push California cities to fiscal brink

  1. Lutheran-MS says:

    They brought it upon themselves by giving the public unions everything that they wanted.