The saga of Jurupa Valley in California is not quite the same as cities like Stockton or San Bernardino. Jurupa Valley is a relatively new jurisdiction that is going broke because the state has appropriated revenues from a vehicle licensing tax that is designed to help newly incorporated cities make a transition to fiscal soundness. The city's financial problems are more a reflection of the state's fiscal woes than of imprudent employee contracts. I discussed Jurupa Valley and other municipal fiscal stresses on Fox Business:
TrackBack URL: http://www.publicsectorinc.com/cgi-bin/mt/mt-tb.cgi/974
- LA stares over pension cliff, glimpses insolvency
- Despite losses, Calpers forges ahead with politicized investing
- How the pension crisis squeezes budgets, California edition
- Texas gas attack provokes California
- California teachers union: Light my fire
- San Bernardino aims to save $61 million
- Public sector workers getting richer faster
- Gunfight at the Calpers corral
- The Decline of the West
- CABs: More bad news for Stockton taxpayers?
- Where are San Bernardino's bondholders?
- Cut those pensions, Stockton creditor demands....
- Stockton and the housing bust