Very high on my list of things not to do, is file for bankruptcy. I mean that in a personal and civic way.
San Diego has been dancing on the edge of it for years, but in San Bernardino, it's happening and it's ugly. They are looking to outsource police and fire, and they aren't paying their debts. Not to the retirement system and not to the bond holders.
If one good thing can come of this, perhaps voters will wake up and realize that bonds are loans, and must be paid back with interest.
We are living on far too much debt in our cities and counties...suckered in by the plaintive cry, "think of the children," more often than not. What we are doing is taking the future from, "the children"...obligating them to pay back the billions we are spending now.
Somehow, I don't think they are gonna thank us for thinking of them.
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