“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?

This entry was posted in Uncategorized. Bookmark the permalink. Post a comment

Post a Comment

You must be logged in to post a comment.

We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form.
  • Blog Author

    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
  • Categories

  • Archives

  • RSS Related Content

    • 'Flying machine' wowed Stockton, vexed press in 1896
      The mysterious flying craft was made of metal. It stretched around 150 feet, sported two flapping canvas wings and sprouted a rudder shaped like a bird's tail. […]
    • Hell on wheels? Sure, why not?
      Crossing India is an adventure. Crossing India during monsoon season is a punishing adventure. Crossing India during monsoon season in a flimsy motorized rickshaw ... are you kidding? […]
    • Nocetis' conviction on festival admirable
      Kudos to promoters Tony and Carol Noceti for their bold pledge to revive the Asparagus Festival. I wonder if they realize what they are getting into. […]