USA's 4th largest city (Houston Tx) Admits it is Bankrupt

[foolsgold]

The Mayor of Houston says the city is 'broke' after overspending for decades.

Democrat John Whitmire, who was elected in December, gave the bleak warning at a City Hill meeting this week where he proposed a five percent cut across all city spending to alleviate the cash-flow problem.

'I think we can all agree that we're broke,' Whitmire said, before proposing the planned cuts.

Houston mayor says city is BROKE after inheriting $160 million deficit

Democrat John Whitmire, who was elected in December, gave the bleak warning at a City Hill meeting this week where he proposed a five percent cut across all city spending.

www.dailymail.co.uk

 

[chieftain]

Did someone say OCP.

 

[pmbug]

The last two mayors Houston had were terrible. Mayor Turner was a fiscal disaster but his friends did very well. Issues with Firefighter pension fund and such have been festering for years.

 

[Casey Jones]

The last two mayors Houston had were terrible. Mayor Turner was a fiscal disaster but his friends did very well. Issues with Firefighter pension fund and such have been festering for years.

Isn't this guy related to Kathryn Whitmire, the much-hyped "fiscal conservative" mayor of the 1980s? She was an accountant by trade, IIRC.

This guy her son? How's Mom feeling about how he's doing?

 

[pmbug]

John Whitmire has only been on the job (as Mayor) for a couple of months. He was just elected. Considering that his main opponent in the election was Rep. Sheila Jackson Lee, he's the most conservative choice that Houston realistically had (city politics skews D).

 

[Casey Jones]

Sounds just like Rust Belt politics of 40 years ago.

The stuff we were glad to put behind us. Unfortunately - or maybe fortunately - for me, the job down in Houston didn't last.

But it wouldn't have been fun to watch liberalism kill another area; and I've seen it plenty of times. Watching Colorado self-destruct was heartbreaking. I'm not liking what I see in Dallas or Austin, even at a distance.

 

[Casey Jones]

Isn't this guy related to Kathryn Whitmire, the much-hyped "fiscal conservative" mayor of the 1980s? She was an accountant by trade, IIRC.

This guy her son? How's Mom feeling about how he's doing?

Sister-in-law.

Well, at least John has maturity going for him.