LA Budget Crisis, Deficit Approaches $1 Billion, Layoffs ‘Nearly Inevitable’ Authored by Mike Shedlock via MishTalk.com, Union contracts are at the heart of the problem. Chicago coming up. Full Blown Crisis Please note L.A. city budget shortfall grows to nearly $1 billion, with layoffs ‘nearly inevitable’ L.A.’s financial problems exploded into a full-blown crisis on Wednesday, with the city’s top budget official announcing that next year’s shortfall is now just shy of $1 billion, making layoffs “nearly inevitable.” City Administrative Officer Matt Szabo said Mayor Karen Bass’ proposed budget, which will be released April 21, will close that gap, but it… — Continue at ZeroHedge News : Read More
