Thursday, November 26, 2009

LOS ANGELES BANKRUPT UNDER MEXICAN OCCUPATION - So Who Should Pay? MEXICO?

BASIC FACTS ON LOS ANGELES UNDER MEXICAN OCCUPATION
1. Mayor ANTONIO “TACO RUNT” VILLARAIGOSA, is a charter member of the MEXICAN RACIST PARTY of LA RAZA … “THE RACE”.
2. Taco Runt won reelection only with the illegal votes of illegals. His campaign was every illegal on welfare gets to vote and vote OFTEN!
3. Los Angeles is characterized by THE CHRISTIAN SCIENCE MONITOR as the “Mexican gang capital of America. Mexican gangs and their crime have now spread all over the state.
4. In Los Angeles there are 500 – 1,000 Mexican gang related murders YEARLY. More than the entire EUROPEAN UNION.
5. Each gang murder costs Los Angeles approximately one million dollars to prosecute, and that does not include ultimate prison costs.
6. In Los Angeles 95% of all warrants for homicide are for illegals, primarily from Mexico (2,000 Californians have been murdered by illegals from Mexico that fled back over the border to avoid prosecution).
7. Welfare for illegals paid out in Los Angeles County hovers around $50 MILLION DOLLARS PER MONTH.
8. Los Angeles is Mexico’s welfare system. Pregnant Mexicans are herded over the border and into the “free” hospitals for birthing. One in five births in Los Angeles is by illegals (1 in 10 the rest of the nation), and then its 18 years of welfare from that point. The system is entirely satisfactory to the government of Mexico, which is an oligarchy of Mexican billionaires similar to the United States ruled by the banksters’ oligarchy (banksters are generous contributors to LA RAZA, and have long demanded more illegals as exploitation of these people is highly profitable).
9. In Los Angeles 47% of those employed are illegals with stolen social security numbers. Most retail, hospitality, or chain food places DO NOT HIRE LEGALS, in fact to get a job at ROSS STORES, TARGET, 99CENTONLY STORES, YOU DON’T HAVE TO SPEAK ENOUGH ENGLISH TO SAY HELLO.
10. The tax-free Mexican underground economy in Los Angeles County is calculated to be about $2 billion per year.
THE MEXICAN OCCUPATION, WHICH NOW COVERS THE ENTIRE UNITED STATES, IS CALCULATED TO DEPRESS WAGES FOR AMERICANS $300 TO $400 BILLION PER YEAR, IF YOU’VE WONDERED WHY THE LA RAZA DEMS WORK SO HARD FOR AMNESTY, OPEN BORDERS NO (REAL) WALL, NO I.C.E. ENFORCEMENT, NO E-VERIFY, AND NO ENGLISH ONLY.
It’s what the LA RAZA DEMS do best, and do only! SELL US OUT.
AFTER BANKSTERS’ WELFARE IS PAID OUT, OBAMA’S NEXT MOVE IS AMNESTY!
latimes.com
L.A. analysts project $1-billion budget gap by 2013
The dire forecast comes a day after the city's credit rating was downgraded. Finance officials recommend service cuts, department closures and privatization of city property -- but no tax hikes.
By Phil Willon
November 26, 2009
Los Angeles could face a $1-billion deficit by the time Mayor Antonio Villaraigosa wraps up his second term in 2013, a dire forecast driven primarily by escalating employee pension costs and stagnant tax revenues, the city's top budget analyst said Wednesday.

The grim financial outlook came a day after the city's credit rating was downgraded by Wall Street-based Fitch Ratings. That could worsen L.A.'s already precarious financial situation by making it more expensive for the city to borrow money.

City Administrative Officer Miguel Santana told City Council members that if they hope to end L.A.'s incessant practice of spending more than it collects they must make severe, and almost assuredly unpopular, cuts to some existing services and possibly eliminate some departments.

Closing the projected budget shortfalls in the years ahead also will require significant reform of the city employee pension systems, such as creating a lower tier of benefits -- a change that would require voter approval, Santana said.

"None of these solutions are easy," he said.

Noticeably absent from the discussion was any talk of raising taxes or fees. Instead, Santana suggested that Villaraigosa and the council consider more creative ways to raise money, such as privatizing the Los Angeles Convention Center and the L.A. Zoo.

"In this economy, you don't want to talk about raising taxes," said Councilman Greig Smith, who represents the northwest San Fernando Valley. "I don't think voters are in any mood for increasing parcel taxes."

Los Angeles faces a $98-million shortfall in the 2009-2010 budget year, and with steep declines expected in revenue from property-related taxes, sales taxes, hotel taxes and other fees, that deficit could widen. Santana said the city would be forced to dip into its emergency reserve fund to cover the shortfall, a move expected to lead to another downgrade of the city's credit rating.

And that's just the beginning. In 2010-2011, the city faces a projected budget shortfall of $408 million, and that deficit is expected to grow steadily year by year. By 2013-2014, the gap could grow to $1 billion, according to city projections.

The current budget gap comes even after the mayor and council reduced this year's shortfall by more than $300 million, savings achieved primarily through a series of concessions from city employee unions: salary cuts, furloughs for some workers and an early retirement program that will take 2,400 employees off the payroll. The city also suspended efforts to expand the Los Angeles Police Department, although it will continue to replace officers who leave. To cut overtime expenses, the Fire Department is shutting down rescue units and ambulances on a rotating basis.

Santana said the early retirement program would save the city $47 million this fiscal year, but as a result many of L.A.'s most senior and experienced workers are leaving: "We're losing much of the brain trust of the city overnight."

The City Controller's office, which conducts financial and performance audits of agencies and programs, is losing 180 employees -- 17% of its workforce.

The Los Angeles Police Department will lose 226 civilian employees who range from auto mechanics to office workers. Combined with 325 civilian positions that are currently vacant, that will leave about one out of every six civilian jobs unfilled at the LAPD.

Councilman Bernard C. Parks, chairman of the council's Budget and Finance Committee, said there are no easy options.

"It's no longer an issue of saving a program or saving a department, it's really about the financial health of the city," said Parks. "I don't think any of us want to be here and be a part of a news conference about a bankruptcy."

Along with city tax revenues falling $75 million short of expectations this year, the city faces the burden of ensuring that its two major pension systems -- the Los Angeles City Employees' Retirement System and the Los Angeles Fire and Police Pensions -- remain solvent despite investment losses suffered in the economic downturn. That is expected to cost an additional $204 million by 2013, according to the city administrator's office.

Along with the credit downgrade by Fitch, the two other major rating services, Moody's and Standard & Poors, are expected to release their assessments of city finances next week.

The downgrades translate into higher interest rates when the city goes to the bond market to borrow money, whether it's for operating expenses or to pay off legal judgments for the city. Over the life of a typical $120-million 30-year bond, that could cost an extra $3.8 million, city analysts estimate.