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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA Chapter 9 bankruptcy by the city of nearly 300,000 (Stockton, CA)
http://in.reuters.com/article/2012/06/27/economy-stockton-idINL2E8HQ3XU20120627* Stockton has $700 mln outstanding debt
By Jim Christie
STOCKTON, Calif., June 27 (Reuters) - Stockton, California will become the largest U.S. city to seek protection from its creditors after its leaders approved a budget on Tuesday night based on the city filing for bankruptcy.
A Chapter 9 bankruptcy by the city of nearly 300,000 in California's Central Valley, about 85 miles (135 km) east of San Francisco, could come as early as Wednesday.
Stockton's city council voted six to one in favor of the 2012-2013 budget after a contentious five-hour meeting where angry retired city workers pressed council members to reject the $155 million spending plan. It proposes eliminating retirees' medical benefits to help fill a $26 million budget deficit.
Retired police department employee Geri Ridge said she fears not being able to afford health-care insurance. "I don't have that kind of income," said Ridge, 56, noting she is concerned a large share of her $1,895 monthly pension payment could be consumed by large insurance costs due to her history of heart attacks.
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ONE city with 700 million in debts..WTF..
Multiply this by all the other US cities that have been starved by Bush and then crushed again by the depression/recession, and we have a HUGE problem.
There is NO way these debts can be repaid, no matter how many retirees they kill off (by cutting off health care they EARNED)
HiPointDem
(20,729 posts)care.
priorities, you know.
Zalatix
(8,994 posts)HiPointDem
(20,729 posts)of posts in 2 or more threads.
and still debating it a week after the school changed the policy, which was all the mother wanted. she likes the school and the personnel.
but some duers hate public schools and post at least one article every week so they can make hundreds of posts about how stupid teachers are.
Zalatix
(8,994 posts)In the old days we didn't talk about this; we got out the pitch forks and torches and scared the government into paying restitution for what happened to that girl.
The real issue is that when you talk about a city going bankrupt, the first thing that most people DEMAND is that we yank all benefits from city workers. This is an active, malicious drive by large swaths of the populace. It's what drove the vote in Wisconsin and two cities in California.
People WANT to sacrifice their own best interest for the ruling elite. It's a case of mass hypnosis. Even if there was no Snookie, no Justin Bieber, no sunburnt albino kids and no rainbow oreo cookies, even if you got rid of every distraction in the universe, you would still have seething masses of people who think they can get ahead by screwing over other workers. In fact, you would have more of them, as they wouldn't be as distracted from the propaganda coming from the corporate elite.
HiPointDem
(20,729 posts)debate sunscreen policy, go to the twenty threads about it.
and no, if there weren't 40 million idiotic things to keep people from thinking about reality, they'd have to think about it.
Zalatix
(8,994 posts)So you're saying that sunburn doesn't hurt very badly? Or that sunburn doesn't increase your risk of skin cancer? Or that the school didn't deny the kid access to sunscreen? If you aren't willing to say "yes" then you must admit the kid's life was endangered.
If I were the parent of that kid I would not only NOT back down against anyone who told me otherwise... I would sue and force my views upon that school. I would sue that school right into the ground and take the proceeds to get on television and send a warning to other schools NOT TO ENDANGER someone else's kid.
I'm thinking you probably understand how unyielding I am on this issue. And how correct I am, too.
HiPointDem
(20,729 posts)several to chose from.
you like colored oreos, go eat some
how did humanity ever survive without fucking sunscreen
Zalatix
(8,994 posts)And as I said in one of those threads, humanity survived without sunscreen. We just died from cancer more often. Long term unprotected exposure to the sun can do that to you, ESPECIALLY if you have albinism.
HiPointDem
(20,729 posts)Zalatix
(8,994 posts)HiPointDem
(20,729 posts)Zalatix
(8,994 posts)Have a nice day!
msongs
(67,509 posts)HiPointDem
(20,729 posts)vacant.
xchrom
(108,903 posts)SoCalDem
(103,856 posts)Estimated median household income in 2009: $45,730
Estimated per capita income in 2009: $19,369
Median gross rent in 2009: $939
For population 25 years and over in Stockton:
High school or higher: 68.2%
Bachelor's degree or higher: 15.4%
Graduate or professional degree: 4.9%
Unemployed: 12.4%
Mean travel time to work (commute): 27.2 minutes
Read more: http://www.city-data.com/city/Stockton-California.html#ixzz1yzLT535q
FarCenter
(19,429 posts)nxylas
(6,440 posts)Stockton just needs to get off its ass, learn the value of a hard day's work and quit spending all its money on drink. I'll bet you it has cable TV and a mobile phone, too.
HiPointDem
(20,729 posts)hack89
(39,171 posts)and you are dependent on property taxes to fund city services.
taught_me_patience
(5,477 posts)COMPLETELY RIDICULOUS! Seriously... this pension is fucking nuts. I can't possibly see how anybody could argue that this can continue.
Heywood J
(2,515 posts)$2,000/month x 12 months/year = $24,000/year. When you're surviving on that for an entire year, paying more for healthcare would be pretty hard.
My father retired at 57, with 37 years into the company he was with. Are you saying that no one should be able to retire until they're 65 or older and have potentially have to put 45 or more years into a company, which then decided to close its plant and lay everyone off before that was even possible?
Completely ridiculous? I can't decide if you're being serious - it's too early in the morning and I haven't had coffee. My apologies if you're not.
Starry Messenger
(32,342 posts)BlueIris
(29,135 posts)I write near because if there were a legal mechanism under Oregon law for the county to declare bankruptcy, it would have done it already. It's scary to me that we are at this point.