WaPo Article: San Diego Snarled in Web of Financial Woes
Just last week The New York Times said we (San Diego) are/is akin to Enron, and now the Washington Post says we’re “snarled.” Dude! This stinks!
Because they deliberately underfunded the pension fund, city leaders have pushed California’s second-largest city so far into the red that pension payments could drain city coffers and threaten its fiscal health for years.
“People are somewhat in shock the city ended up in this position. People always said with pride that we live in paradise. Now we’re a city in crisis,” said Mitch Mitchell, vice president of public policy and communications for the San Diego Regional Chamber of Commerce. “We’re in a ’save the city’ mentality.”
So, is the city screwed or what? And how will this affect the mayoral race, indeed all the races/initiatives on the ballot this November?
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Dave Smith said on Monday, September 13, 2004, 19:00
Whistleblower Diann Shipione was quoted by Don Bauder in the San Diego Reader, predicting that a pension tax is on the way after the election. The elected officals are still in denial. Time to clean house and demand accountability if you ask me.
oso said on Monday, September 13, 2004, 22:12
Richard Louv says that part of the reason for San Diego’s financial woes is that developers are not paying their fair share.