“We’re not broke” — just $110 million short

Being a fiscally sadder but wiser Stocktonian, it’s fun to look around the country and see examples of obtuse cities making exactly the same mistakes that led Stockton to the poorhouse door.

Take Bridgeport, Conn. A council budget commitee there just approved borrowing $110 million in tax-anticipation notes to pay bills, vendors and employees.

“We’re not broke,” Councilman Angel dePara Jr. said. “It’s just the cycle of the majority of money that comes in is challenging.” 

Yes, when you’re $110 million short of paying your bills, the cycle of money that comes in is challenging — especially if you’re police department is racking up millions in overtime and you can’t see your way to making desperately neded cuts. 

“What are you doing so you don’t get to that point?” one councilman warned. “With our personal finances, we’ve got to cut back on things …” 
 
There’s always at least one guy running the asylum who’s not a lunatic. Will they listen to him or continue to fatten the unions?

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    Michael Fitzgerald

    Mike Fitzgerald is The Record’s award-winning metro columnist. His column runs in the paper three times a week. Born in San Francisco, he was raised in Stockton. His column covers diverse beats including, sometimes, the offbeat. Read Full
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