Wednesday, 11 July 2012

The Schwarzenegger legacy: San Bernardino third Californian city to file for bankruptcy

California (no) dreaming:

San Bernardino’s City Council voted to become the third California city this year to file for bankruptcy, as it struggles with declining tax revenue, growing employee costs and accounting discrepancies in its ledgers.
The council voted 4 to 2, with one abstention, last night to authorize a filing under Chapter 9 of U.S. bankruptcy law. The city of 209,000, about 65 miles (105 kilometers) east of Los Angeles, is so broke it can’t make its Aug. 15 payroll, interim City Manager Andrea Travis-Miller said.
“If the employees are not paid on Aug. 15, on Aug. 16 there will be a mass exodus of city employees,” City Attorney James Penman told the council before the vote. “People are not going to work when they don’t get paid. Most of our employees will not show up to work. That would include police, fire, refuse, everybody. The city will virtually shut down.”
Read the entire article here
The question is, when will the entire state of California file for bankruptcy? It can´t take too long now, when one remembers how the Schwarzenegger global warming legacy is impacting  life in the Golden State.  

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