California city bankrupt, true? or, false?

by Tree Top TT Posted 2012/06/28 04:22:03

Loading Demographics... Click an icon to see demographic results Display unknown and private
	true	55 votes	81%
	false rumor	5 votes	7%
	Undecided	8 votes	12%

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JohnT 2012/07/03 03:37:04

true

If you are talking about Stockton California about 30-40 minutes from where I live, which has a population of around 300,000 people yes it went Bankrupt last week. Typical of local governments cashing checks the bank don't carry mostly on either health or retirement plans that were not well thought out for city employees and what it would take to finance them.

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BILL 2012/07/02 07:16:00

true

And it won't be the last in the Free Ride State

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Andrew 2012/07/02 01:57:07

true

I live in California, Ilove this state, there's lots to do. unfortunately this country is run by communists, it's just not fair that a state you like is corrupted by people.

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Tennessee3501 2012/07/01 21:48:23

false rumor

+1
Its the USA that is going bankrupt !

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Jean 2012/06/29 19:00:53

true

+1
Why should this not be true? It's California, the land of big taxes and bigger spending.

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Bob 2012/06/29 03:37:30

true

+2
Many places in our country are going down the toilet: not enough tax revenue because of high unemployment and overspending.

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Flyingbug 2012/06/28 23:32:53

true

+1
Stockton filed yesterday (Chapter 9). Public-sector union pensions part of the problem.

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Walter Harris 2012/06/28 22:49:38

true

+1
it is going to be a first in a long line

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hasher 2012/06/28 20:29:33

true

+2
the stupid state cant stop spending and they keep voting in these same idiots who keep spending you get what you deserve

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Walter ... to hasher 2012/06/28 22:53:53

+4
they keep passing laws that fit the few, "the rich", instead of passing laws that make since, much less that are completely legal. It is not just California, the whole country is doing this. They pass laws expecting the US gov to pay for. They do for a yr or two and then they stop. Or they take a law and add to it to the point it is pointless or perverted with politics than actually being useful.

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Shantay Thompson 2012/06/28 19:10:19

true

+2
I grew up in So. Cal. The State began filing for banckruptcy in the 80's, when the "citizens" voted to stop raising taxes. It has hit the public schools dramaticaly over the years. I guess things have finally hit critical mass..........not like I didn't see it coming!

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syl to Shantay... 2012/07/03 20:36:16

Sad. Who is going to bail them out?

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Shantay... to syl 2012/07/13 20:42:28

The people voted out taxes, the people spoke a long time ago. Calif. Is now only the very wealthy or poor......it is very sad. Gangs now run the neighborhoods in poverty....

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syl to Shantay... 2012/07/14 01:02:16

& when people run out of money, if they have no jobs-they hit the welfare system, & some just start robbing-which is really scary, & terrible.

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syl 2012/06/28 17:43:16

true

+1
Too many illegals, & people who should not be on welfare ( "iffy"immigrants), but the Hollywood crowd who make gazillions of money-you'd think their taxes alone would keep California afloat. But as to Stockton, sad.

Now add obamacare nightmare-taxes on people who are bankrupt, & who can't afford healthcare, who are not on Medicare, or Medicaid, are unemployed...now add a freaking tax, that goes up every year, & cost 2.6 trillion of the taxpayers money!!!

Real smart dumbo.

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Walter ... to syl 2012/06/28 22:56:12

+1
it's not just illegals, but the ones that draw a check and sit around all day smoking dope. Yes i have seen it done to many times.

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Mimi to Walter ... 2012/07/07 02:10:26

They should give illegals permission to work here some already pay taxes at the end of the year with their ITIN #, and for those that complain how they're taking your jobs"" I'm sorry didn't know your dream was to work at a fast food dead end minimum wage job stop with that nonsense and prepare your self for a better future! raising taxes help before. We need to educate our selfs better and know how to manage our income to avoid debt.....

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Dan 2012/06/28 17:40:50

true

+1
Probably anyway. I'm not "in the know" (city gov) but several major networks and newspapers are reporting the same thing and the odds are that it's true. California liberals have made a very uncomfortable bed for themselves.

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Racefish 2012/06/28 16:32:22

Undecided

+1
Depends on the city. I would say it's probably more true than not.

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firebird 2012/06/28 15:33:15

true

+1
ALL of California is bankrupt ! They cant even pay for their state and city employee payroll. Their utility bills are are running far behind ......... Too many illegals, too many welfare recipients and LOTS of over bloated and excessive salaries. retirement pensions and plans are outrageous ... Welfare FRAUD is excessive in California.... NOT nearly enough TAXPAYERS!! when you have more sucking off the welfare tit then you have paying in taxes then the tit is going to dry up on you........ ITS NOT ROCKET SCIENCE HERE......

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Shantay... to firebird 2012/07/13 20:46:48

I was born and raised in So. Calif. There aren't enough tax payers because of a proposition passed years ago by the people of Cali. Stating they opposed any new taxes.......so, ta-da!!!!! They are reaping years later what the people voted in..........

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John Hall 2012/06/28 14:06:22

true

+3
actually the city has a endless supply of money just raise the taxes on the people isnt that the liberal way of thinking.

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Bill 2012/06/28 14:05:24

Undecided

+2
Could be true, could be false. Can't believe the media these days.

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jacklkemp 2012/06/28 12:42:25

true

+1
Due to unsustainable pension plan payments...

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uninfor... to jacklkemp 2012/06/29 04:40:04

+1
I am not sure if it is any different here but aren't pensions already funded? Isn't the money people have paid into their pensions locked away somewhere 'safe'(I use the word loosely)? Have they spent the pension money and are attempting to fund what are now(and never should have been) liabilities with the money that trusting(*cough*) people are putting into the pension system today?

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Tominator 2012/06/28 12:41:16

true

+2
Stockton, Cali. TOO bad! They elected the people that caused the mess, they keep electing left wing pro union idiots and they get what they get. Tough sh!!!t

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Joe Shwingding BN-ZERO 2012/06/28 12:26:08

true

+1
Vallejo

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Tree To... to Joe Shw... 2012/06/28 13:16:20

Yo No Se?

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Joe Shw... to Tree To... 2012/06/28 13:21:06

+1
Vallejo, CA.
http://www.sfgate.com/bayarea...
May 24, 2008

Vallejo officially declared bankruptcy on Friday, when the city's attorneys filed for Chapter 9 bankruptcy protection for the financially troubled North Bay city.

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Tree To... to Joe Shw... 2012/06/30 12:55:34

So, both Vallejo & Stockton Are filing for bankrupycy, Eh, O Me O my, what shall we do?

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Joe Shw... to Tree To... 2012/06/30 16:40:57

Vallejo already did, done, over with and have emerged from it last year.

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JohnT to Joe Shw... 2012/07/03 03:49:02

+1
They are out of Bankruptcy and just opened two new fire stations today.

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Joe Shw... to JohnT 2012/07/03 04:08:52

Hooray the system still functions!

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heirsoftheking 2012/06/28 12:15:32 (edited)

true

+1
On TV yesterday, while I was busy getting dressed, it sounded like they said the City of San Jose (not too awfully far from Stockton) had some unreal retirement pensions, like $90,000 a year for retired police officers.

Unfortunately, I cannot verify if this is true or not. However, if it is, then it's no wonder the State of California and cities like Stockton are going bankrupt. If someone can verify this, or anything similar to this, please do so.

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Tree To... to heirsof... 2012/06/30 13:04:02

$90,000 aint Chit in California, you would need addn'l food stamps, or, go hungry! & need to steal, io order to buy drugs, the pot prices are outrageous for the good stuff & only the rich & famous buy the Nose Candy!

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Mark P. 2012/06/28 12:10:05

true

+1
Too much spending and not enough taxes to cover that spending. kinda like the fed.

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Mary Ann 2012/06/28 10:34:49

true

+3
The California city of Stockton approved a special budget Tuesday night, paving the way for it to become the largest American city to declare bankruptcy.

CA and Odumbo.....one in the same.

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clasact 2012/06/28 10:16:07

true

could very well be true many US cities have filed bankruptcy in the last couple of years its really not that big a deal considering others have done it in the past and there could be other reasons for doing it ie.. need to break a contract

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KingdomNow 2012/06/28 09:15:19

true

+2
Bankruptcy is a legal defense in order to renegotiate debt. Few cities in the US operate on a surplus so eventually, all cities in the US will someday reach a critical point the same way the federal government has reached a debt crisis.

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SoCalEx-Dem 2012/06/28 05:51:07

true

+6
The whole damn state.

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