Former LA Mayor: 90% of cities and states to go bankrupt

by Mark on January 18, 2011 7:20 am · 2 comments

“The unions don’t want any accountability, they put incompetent adults ahead of children.”

That’s a quote from from former Los Angeles Mayor Richard Riordan, in an interview with Reason.tv’s Tim Cavanaugh.

He tells Cavanaugh that while he has been quite a critic of current L.A. Mayor Antonio Villaraigos, he’s become a fan ever since he “dropped the atomic bomb” on the unions by saying publicly that they are in the way of educational reform.

Riordan is encouraged that although Sacramento is still overwhelmingly controlled by the unions, there’s a break in the ice and increased public awareness of the problem, especially with Villaraigos blaming the unions for our failed education system.

He goes on to discuss state and local budget crises, one upping Meredith Whitney an her call for 100 cities to go bankrupt, with this quote:

“Throughout the country, 90 percent of cities and states are going to go bankrupt within the next five years, many of them sooner.”

Ouch.


{ 1 comment… read it below or add one }

bowlan July 22, 2011 at 12:43 pm

bankrupt in 5 years.ha
it wont be that long.do the math and look at the number of people on unemployment. then figure in the number of them now of welfare.
they are already broke but they are in denial.

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