That’s well and good but many experts, including Brodsky, are predicting even more filings or other maneuvers to escape budget disasters than the cities in California—although California is arguably the most at risk state and its cities the one’s which are also most in peril.And yet governmental units at the city, county and state level all over America have been doing just that for a couple of decades.
There are far too many public employees who live better than the people they serve. There are far too many who receive much better health care and retirement benefits too. It used to be that public employees made enough (barely) to live on but were assured of health care along with a decent retirement for their years of public service. Ain’t nothing wrong with that either.According to the article, Brodsky said that years of declining property values after the housing bubble burst have left many cities strapped for cash. “If property values fall, so do revenues collected from property taxes. Additionally, while people do love their services, there's been a growing distaste for increasing tax revenues to pay for those benefits.