Wecome to the new USA under Obama, STockton,California

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Eric wrote:

And what was the excuse in 2008 when Vallejo went bankrupt during the Bush administration?

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ohoh wrote:

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Standby oh Obama apologist....
Many, many more to follow.
Keep printing, keep spending.
Yea, thats the ticket.

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Eric wrote:

And what was the excuse in 2008 when Vallejo went bankrupt during the Bush administration?

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Eric wrote:

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Nice non answer

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Johnny Appleseed wrote:

<quoted text>Like cities across the country, Vallejo has seen its revenues wither in the wake of the recession, prompting pay cuts for municipal employees. into court proceedings.In plainest talk: They are zeroing in on ordinary workers and retirees, putting wages and benefits on the line.....current and former Vallejo employees"
"In the 1990s and early 2000s, the local economy soared on the back of the real estate boom. From 1997 to 2000, building permits for new single-family homes increased over 10-fold, according to the city's financial statements. From 2002 to 2008, property tax assessments doubled."
...."after the spectacular boom came a devastating bust. Since peaking in May 2006, home prices in Vallejo have plummeted 63.3 percent, according to data provider " targethplinkZillow.com ."
"Property taxes -- the city's largest source of revenue -- have dropped 33 percent since their peak, as sliding home values meant Vallejo couldn't collect as much from homeowners."
"ACORN and the Community Reinvestment Act are to blame for the sub-prime mess, as this segment on Lou Dobbs echoes here."
"It goes back to something known as the Community Reinvestment Act that passed in 1977. The law ordered banks to make loans to low and moderate income people. The Consumer Rights League says ACORN stepped in and used that law to pressure banks to lend to sub prime borrowers, even those who couldn't demonstrate the capability to pay back the loan."

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Eric wrote:

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And it all happened under Bush's watch

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Eric wrote:

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And it all happened under Bush's watch

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lou wrote:

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Well golly gee, are you slow.
So, there are no more to follow? Dream on. Many more cities lining up on the edge of default.
Spend,spend,spend.
Seems to have worked out so very well for the Obama administration.
Unemployment at record levels for record years, trillion dollar deficits for the next 10 12,14,16,18 years? This guy is incredible.
Oh, I forgot. It is GW Bush's fault. Yes he has been directing the policies of the government for the last 3 1/2 years right?Sorry, George is off the hook. Stand up and be proud of your vote for the man that will go down in history as even worse than Jimmy Carter.
Unortunately for the states and cities they cant print money and unless Obama has another trllion dollar "stimulus" (laughable)the states and cities will not be able to pay their employees, because after all that is really what the stimulus was all about.
Pay the govrnment employees, grow the ranks of government employees.
It does not seem to be working out to well though. The ranks are going to take a hit just like everyone else.
Good luck cities and states if you have to figure this out on your own.
Time for a real change we can believe in.
But what the hell, Eric is happy with the course we are on,that is all that should matter.
Obama blew his chance, big time.
Cannot do four more years of this mistake.