US Cities Go Bankrupt

[Minnie Maugham]

The bankruptcy of three Californian cities in less than a month has reignited concerns over the parlous state of local government finances across the US.
Attention has now shifted to Scranton, Pennsylvania, where municipal employees have had pay slashed to minimum wage levels amid warnings the city government is about to run out of money.


Stretched budgets, rising debts


I wonder why...

[Lorenzo]

^ unions are the reason for the decline of America

[bsnub]

Here is the biggest municipal bankruptcy in US history in good ole liberal Jefferson County, Alabama. Explain that.

Jefferson County Alabama Files Biggest Municipal Bankruptcy - Bloomberg

[Minnie Maugham]

Here is the biggest municipal bankruptcy in US history in good ole liberal Jefferson County, Alabama. Explain that.

Jefferson County Alabama Files Biggest Municipal Bankruptcy - Bloomberg

Yep, gotta wonder where that "sewer" corruption scandal started...

Jefferson County's debt escalated in the mid-2000s when bond issuance deals to upgrade its sewer system soured amid widespread corruption, bribery and fraud charges that led to some 22 convictions, which included elected officials and government workers.
Costs ballooned as interest rates rose, and the county had teetered on the edge of insolvency since its debt was downgraded in 2008. With more than $5 billion in total indebtedness, the Chapter 9 filing on Wednesday surpassed that filed by Orange County, California, in 1994.
Larry Langford, a Democrat and former mayor of Birmingham, was sentenced to 15 years in prison last year for his role in corrupt business deals that fueled the multibillion-dollar sewer debt. Langford presided over the county commission during the height of the bond swaps that led to the run-up of the massive debt.

Wide blame for biggest municipal bankruptcy | Reuters

[barbaro]

The bankruptcy of three Californian cities in less than a month has reignited concerns over the parlous state of local government finances across the US.

Attention has now shifted to Scranton

Yes, these cities are bankrupt, and there several more cities right on the line of chugging along or eventually going under enough and filing for bankruptcy.

There are certain laws that make it very difficult and even impossible for a city to legally file for bankruptcy.

Yes, I do believe there is a Domino Effect happening and it will happen.

Note* - there are some states in big trouble, too: Illinois, Rhode Island, and of course, Brokefornia.

It will be an interesting next couple of years.

[The Big Fella]

Just Google "End taxation, the only game in town " bankrupt my arse. They have millions they can use but wont as then the game would be up. Google "Comprehensive financial report "and then look up the real figures the cities have !
Like the federal reserve it is just a huge scam on the tax payer and they fall for it every time !

[VocalNeal]

Stretched budgets, rising debts


I wonder why...

In Stockton California a fireman can retire at 50 on $147,000 a year. Maybe this has something to do with it.

[barbaro]

Just Google "End taxation, the only game in town " bankrupt my arse. They have millions they can use but wont as then the game would be up. Google "Comprehensive financial report "and then look up the real figures the cities have !
Like the federal reserve it is just a huge scam on the tax payer and they fall for it every time !

Thanks, Big Fella. I'll google this.

Oh yeah, these cities are going for as much of a cash-grab as they can get.

They are sniffing around to take it out of the (already broke) taxpayer anyway they can get it.

[Davis Knowlton]

Stretched budgets, rising debts


I wonder why...

In Stockton California a fireman can retire at 50 on $147,000 a year. Maybe this has something to do with it.

Median ANNUAL salary for a fireman in Stockton, CA is 45K. The above figure isn't right, unless they are the only people whose retired pay is triple what they earn working full time. A retired 4 Star Army General doesn't make that amount in retired pay.

[ltnt]

A retired 4 Star Army General doesn't make that amount in retired pay.

Thank God they don't. Those guys live forever just like ex-presidents and their wives. Don't bother to check out the retirement income/benefits for exPOTUS, Senators and Congressmen. It'll really piss you off.

[Attilla the Hen]

The problem in California is the failed direct democracy experiment.
Citizens put up and vote for initiatives, but, they refuse to support tax increases to pay for them.

[terry57]

^

Unions are the reason for the decline of America

Suppose which side of the fence one is on.

If it wasn't for a strong Union many employers would be treating there employees to very low wages and basic conditions much the same as South East Asia.

Exploitation would be rife as in many parts of the world where there is no Union movement to protect the workers from Employers who gain untold wealth at the expense of there work force.

Long live the Union movement.

United we stand divided we fall.

[terry57]

In Stockton California a fireman can retire at 50 on $147,000 a year. Maybe this has something to do with it.

What a load of wank and misinformation.

A Chief Officer maybe but a run of the mill Fire fighter ?????.

A Firefighter would not even earn anywhere near that unless he was putting in a large amount of over time.

No way.

[barbaro]

The problem in California is the failed direct democracy experiment.

Exactly.

Quote of the year, Atilla.

And this problem in California exists in other states and at the federal level, too.

This will IMO, be the undoing of the US.

Citizens put up and vote for initiatives, but, they refuse to support tax increases to pay for them.

And this is very common, also.

[Minnie Maugham]

In Stockton California a fireman can retire at 50 on $147,000 a year. Maybe this has something to do with it.

What a load of wank and misinformation.

A Chief Officer maybe but a run of the mill Fire fighter ?????.

A Firefighter would not even earn anywhere near that unless he was putting in a large amount of over time.

No way.

Unfortunately, some do -- I'll get info for ya. I support excellent wages for police, firefighters, teachers, but their unions? NO. I've been checking our teacher wages: starting at $38-45,000 a year. Their union has a job listing for an assistant in social media (WTF is that? Facebook coordinator?) starting at $93,000 plus full bennies. WTF?

[attaboy]

Here is the biggest municipal bankruptcy in US history in good ole liberal Jefferson County, Alabama. Explain that.

Jefferson County Alabama Files Biggest Municipal Bankruptcy - Bloomberg

Yep, gotta wonder where that "sewer" corruption scandal started...

Jefferson County's debt escalated in the mid-2000s when bond issuance deals to upgrade its sewer system soured amid widespread corruption, bribery and fraud charges that led to some 22 convictions, which included elected officials and government workers.
Costs ballooned as interest rates rose, and the county had teetered on the edge of insolvency since its debt was downgraded in 2008. With more than $5 billion in total indebtedness, the Chapter 9 filing on Wednesday surpassed that filed by Orange County, California, in 1994.
Larry Langford, a Democrat and former mayor of Birmingham, was sentenced to 15 years in prison last year for his role in corrupt business deals that fueled the multibillion-dollar sewer debt. Langford presided over the county commission during the height of the bond swaps that led to the run-up of the massive debt.

Wide blame for biggest municipal bankruptcy | Reuters

Don't forget the other Democrats.

Also indicted were lobbyist and former state Democratic Party executive director Al LaPierre, and Montgomery investment banker and bond underwriter, and former state Democratic Party chairman, William B. Blount of Parrish & Co.

[attaboy]

I'm guessing the salary includes overtime,benefits like medical insurance and maybe a life insurance policy.




The firefighters and law enforcement officers who protect Fair Oaks are the highest-paid in the county, according to a Sacramento Bee database.

The average pay of a Sacramento County Sheriff's Department deputy is $96,513, while an average Sacramento Metropolitan Fire District firefighter wage is $128,805.
Those numbers are the highest in Sacramento County, and compare with state averages of $92,976 for police officers and $113,882 for firefighters. However, Folsom Police Department captains earn more on average than sheriff's department captains, according to the Bee.

Sheriff and Metro Fire Pay are Top in County (Poll) - Fair Oaks, CA Patch




Stockton firefighters' compensation is considerably above the state median, even though Stockton's City Hall has fewer tax dollars.

The average firefighter earns $145,000 a year in salary and benefits. Overtime and sweet perks called "add pays" often drive their earnings above $200,000.

Note to Stockton firefighters: The gravy train has derailed | Recordnet.com








Did the police and fire departments sink Stockton? | MuniLand





Vallejo's base pay for firefighters is more than $80,000 a year. Last year, 21 of them topped $200,000 in salary and overtime, according to city payroll records.

A closer look at Vallejo's woes - SFGate

[Minnie Maugham]

^ Methinks the pensions to the growing basket of these retired folks has broken the bank.

[attaboy]

No one was watching so the unions went wild with their brethren in the government lavishing money and benefits; each county commissioner feeling like some delusional Caligula.

[Minnie Maugham]

^ Sadly, true. It begs more research to uncover the downfall of these cities -- I fear union demands are at the heart of them all.

[attaboy]

San Bernardino bankruptcy: Other California cities could be next - latimes.com


San Bernardino bankruptcy: Other California cities could be next

July 12, 2012

San Bernardino this week became the third California city to seek bankruptcy protection in the last month, and experts say it might not be the last.

Once rare, turning to bankruptcy has become a painful but enticing option for cities whose labor costs and municipal debt far outpace anemic tax revenue. The Bay Area city of Vallejo began the current trend in May 2008, filing for Chapter 9 bankruptcy protection because, city leaders said, salaries and benefits for its public safety workers were eating up too much of the general fund.

"I think this is the tip of the iceberg in terms of the problem,'' Nation said. "Stockton was spending $12 [million] or $13 million on pensions 10 years ago. By 2010, it was $30 million … and will double again over the next five years, unless something is changed."

[attaboy]

Unions Fight Scranton Mayor After He Cuts Pay to Minimum Wage

When the city of Scranton, Pa., found itself down to its last $5,000 in the bank last week, its Democratic mayor took a highly unusual step: he unilaterally cut the pay of city workers — including police officers, firefighters and even himself — to the minimum wage, just $7.25 an hour. Now the city’s unions are fighting for their promised pay in court.

http://www.nytimes.com/2012/07/11/us...imum-wage.html


The city of Scranton smack dab in the middle of coal country doomed by our president's energy policy of strangling coal. Maybe if Scranton is lucky the coal played out a long time ago if not they are sitting on a whole lot of nothing and that is going to make them steam.

[bsnub]

The city of Scranton smack dab in the middle of coal country doomed by our president's energy policy of strangling coal.

Scranton was doomed long before this president even thought of running for office. More nonsense from the alternative reality right wingnuts.

[terry57]

I'm guessing the salary includes overtime,benefits like medical insurance and maybe a life insurance policy.




The firefighters and law enforcement officers who protect Fair Oaks are the highest-paid in the county, according to a Sacramento Bee database.

The average pay of a Sacramento County Sheriff's Department deputy is $96,513, while an average Sacramento Metropolitan Fire District firefighter wage is $128,805.
Those numbers are the highest in Sacramento County, and compare with state averages of $92,976 for police officers and $113,882 for firefighters. However, Folsom Police Department captains earn more on average than sheriff's department captains, according to the Bee.

Sheriff and Metro Fire Pay are Top in County (Poll) - Fair Oaks, CA Patch




Stockton firefighters' compensation is considerably above the state median, even though Stockton's City Hall has fewer tax dollars.

The average firefighter earns $145,000 a year in salary and benefits. Overtime and sweet perks called "add pays" often drive their earnings above $200,000.

Note to Stockton firefighters: The gravy train has derailed | Recordnet.com








Did the police and fire departments sink Stockton? | MuniLand





Vallejo's base pay for firefighters is more than $80,000 a year. Last year, 21 of them topped $200,000 in salary and overtime, according to city payroll records.

A closer look at Vallejo's woes - SFGate

What they don't tell you is those firefighters are multi skilled highly trained medics doing A dual job.

They are fully trained Fire Fighters plus fully trained Medics responding to every emergency call from junkies to heart attack victims.

The County is getting a cracking deal as there paying one man to do two jobs, theses guys do not stop there out all day all night dealing with all sorts of Emergency situations. Very little down time for a multi trained medic come Firefighter.

In Australia our Union has fought long and hard to stop this occurring. Firefighters and Medics are a separate profession and plan to keep it that way for as long as we can as the service and response time to Incidence are much better .

Plus it creates Employment opportunities. One man one job we call it.

Your having a heart Attack in America and its....... Oh just hang on for a while as the Medic is attending to a fire call.

The County is laughing as they gets two professionals for the price of one and a half, plus pay half the benefits as it only has to pay one Professional.

Firefighters, Medics, Teachers and Police in Australia earn around the same sort of Money. Approx 80 odd K for a Senior and any other extra is over time worked. 50K after tax.

They pay for there pension from the time they start and usually work at least 30 years, many guys do much more. The Government also contributes to there retirement fund and if all works out the average worker as off today could retire on probably 50 K a year much less usually.

I refer back to your figures where the Policeman earned less then the Firefighter .

This occurred only because the Firefighters wages quoted are for highly trained multi skilled Firefighters.

A Firefighter with no Medic training would never get this money.

Only fair don't you think.

[Minnie Maugham]

^ I think you are comparing the plans of your Aussie comrades with your US brethren. Union stuff differs, methinks.

Here's Detroit on the platter:

With a $260 million cumulative budget deficit and a staggering $7.9 billion long-term debt burden, the city signed a financial stability agreement with the state of Michigan last April, agreeing to institute much needed reforms and get its budget in order. In the wake of Detroit’s financial crisis, Mayor Dave Bing and Police Chief Ralph Godbee decided to cut 18 percent from the police department’s $414 million budget for the 2012-2013 fiscal year, which began on July 1.

Read more: The Motor City does battle with unions | The Daily Caller