Or is Greece the new Oakland? In any case, the Northern California city where there’s no there there, and (pardon me while I repeat myself) where Jerry Brown stopped in for a cup of coffee as mayor in-between once and possibly future governorships, presidential runs, state attorney general positions, dating Linda Ronstadt, etc., is teetering on bankruptcy:
The party is over for Oakland even whether its city council is willing to admit it or not. As always, union contracts and pension benefits drove the city into the ground. Please consider Oakland faces pension costs, higher taxes.
California as a whole is in about the same shape; Jerry has at least a 50/50 chance to finish the jobs he’s started in both Oakland and Sacramento next year. And with a proven track record such as this, sadly, it seems more than reasonable to assume that California voters will let him.
(Hat tip: Newsalert.)