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len raphael's avatar

The sad thing is that Loren Taylor who should have known better, and Charlene Wang in D2 who doesn't know better, picked up Tim's suggestion of several months ago that the city could refi our massive debt to CALPERS for our pension obligation underfunding at a lower rate than CALPERS charges us.

If that was even feasible months ago, it sure isn't now when it's obvious that our elected officials are incapable of the fiscal discipline to make the permanent cuts needed and changing priorities to make this city attract more tax paying businesses etc. And when the Federal cuts coming for cities will push a whole bunch of other cities into trying borrow money to pay operating costs.

Recent Chron article on housing bonds not issued because of credit rating concerns:

"𝗛𝗮𝗿𝗼𝗹𝗱 𝗗𝘂𝗳𝗳𝗲𝘆, 𝗮𝗻 𝗮𝘀𝘀𝗶𝘀𝘁𝗮𝗻𝘁 𝗰𝗶𝘁𝘆 𝗮𝗱𝗺𝗶𝗻𝗶𝘀𝘁𝗿𝗮𝘁𝗼𝗿, 𝘄𝗵𝗼 𝘀𝗽𝗼𝗸𝗲 𝗮𝘁 𝘁𝗵𝗲 𝗺𝗲𝗲𝘁𝗶𝗻𝗴 𝗧𝘂𝗲𝘀𝗱𝗮𝘆, 𝘀𝗮𝗶𝗱 𝘁𝗵𝗲 𝗱𝗲𝗹𝗮𝘆𝗲𝗱 𝗯𝗼𝗻𝗱 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝘄𝗮𝘀 𝗱𝘂𝗲 𝘁𝗼 𝗰𝗼𝗻𝗰𝗲𝗿𝗻𝘀 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗰𝗶𝘁𝘆’𝘀 𝗱𝗼𝘄𝗻𝗴𝗿𝗮𝗱𝗲𝗱 𝗰𝗿𝗲𝗱𝗶𝘁 𝗿𝗮𝘁𝗶𝗻𝗴 𝗱𝘂𝗲 𝘁𝗼 𝗶𝘁𝘀 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘁𝗿𝗼𝘂𝗯𝗹𝗲𝘀, 𝘄𝗵𝗶𝗰𝗵 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲𝘀 𝘁𝗵𝗲 𝗰𝗶𝘁𝘆’𝘀 𝗯𝗼𝗿𝗿𝗼𝘄𝗶𝗻𝗴 𝗰𝗼𝘀𝘁𝘀, 𝗯𝘂𝘁 𝘁𝗵𝗮𝘁 𝗰𝗶𝘁𝘆 𝘀𝘁𝗮𝗳𝗳 𝗮𝗿𝗲 𝘄𝗼𝗿𝗸𝗶𝗻𝗴 𝗼𝗻 𝗮 𝗽𝗼𝘀𝘀𝗶𝗯𝗹𝗲 𝗯𝗼𝗻𝗱 𝗶𝘀𝘀𝘂𝗮𝗻𝗰𝗲 𝗹𝗮𝘁𝗲𝗿 𝘁𝗵𝗶𝘀 𝘆𝗲𝗮𝗿."

I support Harold Lowe in part because he understands fiscal realities such as this.

https://www.sfchronicle.com/eastbay/article/oakland-tax-street-improvements-nothing-happened-20239991.php?fbclid=IwY2xjawJQcrlleHRuA2FlbQIxMQABHY3swkCAVB2lgwBSXXyRfeLUvn-ui1ERmLScbkupGpRRnLchDerELbSm5w_aem_tzPQxKTKMw-t1WfZjKPlnw

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Roland De Wolk's avatar

This is a great format. I hope Oakland Report will continue to do this for the other City Council seats as they come up.

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