Will Vallejo crater again?

City leaders say no.

But their fiscal forecast shows the city’s bill from CalPERS, $13.8 million this year, will balloon  to $18.7 million in fiscal 2018, a 36 percent increase.

Vallejo appears to have a rainy day reserve that can cover it.

The talk of a second bankruptcy is almost beside the point. A whopping 36 percent increase to the pensioners means a corresponding decrease in city services such as library hours, police, fire, road maintanance, etc. — a fundamentally anti-democratic example of a municipality twisted into serving the few over the many.

The very idea of a rainy day fund — a hedge against fiscal instability — is undermined. In such a warped realm, bankruptcy is not all bad insofar as it is like an exorcism, casting out the demon possessing the body politic.

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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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