The San Bernardino City Council approves the suspension of debt payments and freezing of filling...


The San Bernardino City Council approves the suspension of debt payments and freezing of filling vacancies - saving $5.4M in July alone. It's money the city will need to get through to filing for bankruptcy. The moves are just a start as the city needs to cut 30% of the budget to survive without debt financing.

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Comments (3)
  • rstaab
    , contributor
    Comments (2) | Send Message
     
    Their borrowing cost just went thru the roof
    25 Jul 2012, 10:49 AM Reply Like
  • J 457
    , contributor
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    Need to cut all the existing pensions. The BK is one way to finally bring some of these unions back to the table.
    25 Jul 2012, 10:54 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    If they would give me a list of ALL their expenses...programs...... could use a red pencil and get it back to them in an hour with all the needed cuts...period...
    25 Jul 2012, 11:07 AM Reply Like
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