|
Post by stayput on Jan 20, 2011 22:40:50 GMT -5
Wednesday, 19 Jan 2011 02:50 PM Article Font Size
Chicago Mayor Richard M. Daley said he “wouldn’t doubt” more U.S. cities would default on their debt as local goverments cope with escalating costs.
“These are serious financial problems for many cities, especially the smaller cities that can’t deal with the day-to- day cost of government,” Daley said today at the U.S. Conference of Mayors meeting in Washington.
Los Angeles Mayor Antonio Villaraigosa echoed Daley’s comments at a press conference.
“There’s no question you’ll see some cities in default,” Villaraigosa said. “The difference between us and the federal government is they can print money. The states balance their budget oftentimes on the backs of cities, counties and school districts. We actually have to balance a budget.”
© Copyright 2010 Bloomberg News. All rights reserved.
Read more: Chicago’s Daley ‘Wouldn’t Doubt’ More Cities to Default
|
|
handyman2
Senior Member
Joined: Dec 29, 2010 23:56:33 GMT -5
Posts: 3,087
|
Post by handyman2 on Jan 21, 2011 0:06:54 GMT -5
I must say I cannot argue with their assumptions. The question what added burden will this place on the states that encompass these cities. Due to budget issues I know of smaller cities that are considering the option of doing away with their fire and police departments and allowing the county fire and law inforcement to take over. This would put an added burden on the whole county tax system. In other words it all runs down hill.
|
|
floridayankee
Junior Associate
If You Don't Stand Behind Our Troops, Feel Free to Stand in Front of Them.
Joined: Dec 20, 2010 14:56:05 GMT -5
Posts: 7,461
|
Post by floridayankee on Jan 21, 2011 9:38:16 GMT -5
Chicago Mayor Richard M. Daley said he “wouldn’t doubt” more U.S. cities would default on their debt as local goverments cope with escalating costs. “These are serious financial problems for many cities, especially the smaller cities that can’t deal with the day-to- day cost of government,” Daley said today at the U.S. Conference of Mayors meeting in Washington. Well, good lord Mayor Einstein...wouldn't the prudent thing be to reduce the size of government to an affordable level??
|
|
burnsattornincan
Well-Known Member
Joined: Dec 25, 2010 23:05:21 GMT -5
Posts: 1,398
|
Post by burnsattornincan on Jan 21, 2011 9:58:50 GMT -5
Well, good lord Mayor Einstein...wouldn't the prudent thing be to reduce the size of government to an affordable level??
Seems incredible but it is like some sort of unimaginable concept to certain people. They just think that is the way it is supposed to be, their entire little world was nothing but a giant make work project. Well now that the money has run out, so will the project. The US needs to bring back jobs with tough tariffs and relaxation of regulations, elimination of corporate tax and unions so these people will have something to do after government. Either that or it will be welfare for them.
|
|
ugonow
Senior Member
Joined: Dec 21, 2010 10:15:55 GMT -5
Posts: 3,397
|
Post by ugonow on Jan 21, 2011 10:08:21 GMT -5
The fat lazy overpaid union police,teacher and firemen need to be dealt with.
|
|
burnsattornincan
Well-Known Member
Joined: Dec 25, 2010 23:05:21 GMT -5
Posts: 1,398
|
Post by burnsattornincan on Jan 21, 2011 10:36:45 GMT -5
Have you even seen clips of school board trustees or other government union minions? Fat whales that would be working as fast food attendants or cleaners if it were not for the public money gravy train. It will be a joy to see them have to deal with reality.
|
|