“They wanted to get out of bankruptcy in the worst possible way, and that’s just what they did.”
— Fiscal watchdog Dean Andal, quoted in the New York Times.
It’s tempting to add parrump-tschhh.
Andal criticized the city of Stockton’s decision not to cut public employee pensions in its bankruptcy. That decision has made Stockton a guinea pig … again.
“Stockton has become an experiment of whether a municipality can successfully come out of bankruptcy and stabilize its finances without touching pensions,” the Times wrote. “It is an effort that has come at great cost to city services and one that some critics say will simply not work once the city starts trying to restore services and hire 120 police officers it promised to get the sales-tax increase passed. ”
Time will tell.