Monday, April 5, 2010

Good grief, LA is broke

LA Times has the story:
Los Angeles Controller Wendy Greuel on Monday said she expects the city’s general fund “will be out of money" by May 5 and that L.A. will likely deplete its reserve funds and be in the red by June 30.

Greuel alerted Mayor Antonio Villaraigosa and the City Council of the city’s dire financial situation after the head of the Department of Water and Power stated he would oppose sending $73.5 million in utility revenue to the city treasury. Interim General Manager S. David Freeman said the council’s vote to block a proposed electricity rate hike last week threatens to put the utility in a deficit.
They probably have flat rate garbage service with the appropriate Union thugs enforcing.

Why did she need to alert the mayor, he is spending the money just like the rest of city council.

1 comment:

apostle said...

It was simply a matter of time.