Summary
Does it make financial sense to "borrow" your way out a deficit? Believe it or not, some state leaders are considering pulling out their local government credit card to borrow or take local funds from cities and counties to deal with this year's $15 billion state budget deficit. These are the same funds that cities like Rancho Cucamonga depend on to provide law enforcement, fire protection, libraries, recreation and senior programs, and street maintenance repairs, just to name a few. We must make it clear - Inland Empire cities as well as all 479 California cities cannot continue to be the state's credit card to borrow on when times are tight.
Sacramento, cut up your local government credit card.See the full content of this document
Extract
State Must Stay Away From Local Coffers
Cities have faced many of the same budget challenges as the state, and this year has been extremely difficult. Property and sales taxes are down and energy, fuel a...
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