The top five causes for the deplorable state of affairs of States and Cities are wages, infrastructure, public safety, health, prices/inflation (something for which the government says we do NOT have, and Pensions. Here in Lake Worth we have suffered and are dealing with all five.
We have a political action committee blaming it all on our local officials with the Unions not giving in to reality. The political action committee (BAC PAC) blames all the ills on our present Commission and the Unions think we have deep pockets. They say, "you're not in a crisis or prove it." Both are way off base. We have a City Manager and a City Commission doing everything within their power to get Lake Worth on track to health and prosperity.
America's Most Bankrupt Cities
San Diego
New York City
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Cincinnati, OH
Honolulu
San Francisco
Los Angeles
Washington, DC
Newark, NJ
Detroit
Reading, PA
Joliet, IL
Camden, NJ
Hantramck, MI
Central Falls, RI
Paterson, NJ
Chicago, IL
States with the Most Bulging Budget Gaps
Municipal pain is at its worst level on record, according to annual report from the National League of Cities
"Cities that depend on property taxes have suffered the most." It is a good thing that we have our own Utility that can help compensate for the big loss in property taxes that are in the biggest decline over the past two years, not only in Lake Worth but across the country as well as out of control Union benefits. Revenues, nationally, have fallen for four straight years. Austerity really kicked in this year.
Video: Day of Reckoning
Another right-on-point PB Post Editorial: Lake Worth's Finances
Source: Business Insider
1 comment:
"Great post... In general, I find it funny how it is the real estate and lending F@KER$ that got us into this mess, and THEY are the ones trying to tell us how it should be dealt with. If they did not sub-prime us into poverty, they would not have the cash in their pokets to throw at the elections. One of my greatest fantasies involves members of various LW businesses, some city officials, a bucket of tar, and some down feather pillows. Unfortunately, if I were to carry out that fantasy (shared by most of the city) I'd wind up in the cage they all belong in!"
Andrew
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