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Topic:
Stockton, CA, poised to be largest US city to go bankrupt [Locked] |
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
This economy as in the American economy or Stockton's?
Stockton is among a few cities that saw rapid population increases that were not sustainable, and spent too much based on the assumption that the growth was sustainable.
Other municipalities, such as Harrisburg and Detroit, are having issues because they've seen their tax base leave. With infrastructure in place for a much larger community it's not easy for a municipality to scale down spending at the same rate that people are able to leave.
Then you have Jefferson County, AL which was the victim of straight corruption and bribery. A rare yet significant case.
But in any case, going Chapter 9 is not easy, and in many states municipalities can't legally file Chapter 9. It's a patchwork of laws which in my opinion is making it more and more political.
For someone who is so against the  FEDERAL government, I'm surprised you'd advocate for a FEDERAL bankruptcy judge to decide this small communities fate.
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Abaddon_Ambrosius  Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
JarkeldRuneblade posted:
Other municipalities, such as ...Detroit, are having issues because they've seen their tax base leave.
Uhm... you might want to rethink that statement.
There are several REASONS their tax base has left. Keep digging for something closer to root cause and people might start taking the rest of your comments more seriously.
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reesescups Title: //Captain America
Posts: 2,537
Registered: 2003-5-26 14:45:53
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
Abaddon_Ambrosius posted:
JarkeldRuneblade posted:
Other municipalities, such as ...Detroit, are having issues because they've seen their tax base leave.
Uhm... you might want to rethink that statement.
There are several REASONS their tax base has left. Keep digging for something closer to root cause and people might start taking the rest of your comments more seriously.
Detroit has been through many bust and boom cycles.
What's your point? That bust and boom cycles are easy to plan for and build flexible infrastructure for?
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
Abaddon_Ambrosius posted:
JarkeldRuneblade posted:
Other municipalities, such as ...Detroit, are having issues because they've seen their tax base leave.
Uhm... you might want to rethink that statement.
There are several REASONS their tax base has left. Keep digging for something closer to root cause and people might start taking the rest of your comments more seriously.
I could write a book about why Detroit's tax base left. The exodus of people isn't the only issue, but by far the largest. I didn't think it was worth addressing WHY there was an exodus for this particular thread focused on municipal bankruptcies more generally, since Detroit's issues aren't the same as say Stockton, CA or Central Falls, RI.
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Scarecrow: I haven't got a brain... only straw.
Dorothy: How can you talk if you haven't got a brain?
Scarecrow: I don't know... But some people without brains do an awful lot of talking... don't they?
Dorothy: Yes, I guess you're right.
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Ashmaele Title: Pastor of Muppets
Posts: 1,809
Registered: 2002-1-15 08:30:50
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
reesescups posted:
JarkeldRuneblade posted:
I don't think he understands how municipal bankruptcies work.
BroTard posted:
Hopefully the creditors will demand Stockton pay in full what it has borrowed
Obviously...
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MayorShade  Title: Not Special Forces
Posts: 258
Registered: 2004-3-1 10:40:52
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
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Kordirn Title: Pirate Prince
Posts: 1,513
Registered: 2004-4-19 01:15:26
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
Mastara posted:
I believe it, I work there. I see what it has done.
Ew im sorry.
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
Tych2 posted:
It's sickening that you wish the pain of so many. A bankrupt city will hurt the poorest and neediest of us. I don't normally say this to anyone, but the world would be a much better place without you and your kind.
Wheres' your empathy for innocent Arabs ?
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
i know only know of Stockton from playing railroad tycoon.
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Young and Free
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paulg_68 Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Stockton, CA, poised to be largest US city to go bankrupt |
I loved that game. If they'd make a new version I'd buy it in a heartbeat.
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