LA WATCHDOG-The City Council and its lack of financial discipline have once again created a Structural Deficit, where the increase in spending is greater than the growth of tax revenues.
LA WATCHDOG - In a word, NO.
LA WATCHDOG--The Economic Development and Jobs Committee of the Los Angeles City Council authorized the Chief Legislative Analyst to release a Request for Proposal (“RFP”) seeking consulting services needed to conduct policy, fiscal, and economic analyses related to the formation of a public bank serving the City of Los Angeles.
LA WATCHDOG-One of Mayor Eric Garcetti’s Back to Basic Priorities was for the City to “Live Within Its Financial Means.”
LA WATCHDOG--The City’s Reserve Fund is intended to be used for emergencies and unforeseen expenditures, such as those created by the recent pandemic, an earthquake, or a wildfire.
LA WATCHDOG--The infusion of $1.35 billion from Washington into the City’s coffers has set off a feeding frenzy among the members of the City Council which threatens the long term financial integrity of the City.