From Walter Moore
Former Candidate for Mayor of Los Angeles --

Los Angeles will run out of cash on Cinco de Mayo

April 5, 2010

The City Controller just issued a statement that the City will run out of cash on Cinco de Mayo. Actually, she says it will be $10 million in the hole by then.

The City Council was counting on a $73 million transfer from the DWP, but Villaraigosa's appointees have decided not to transfer the money since the City Council refused -- and rightly so -- to accept yet another rate hike.

If you had any doubts about living in a Third World country, you can safely set them aside now. Villaraigosa and the Spring Street Gang have managed, through year after year of grotesque overspending, to bring the City to the brink of bankruptcy, despite receiving near- record revenues.

Here's Wendy Greuel's announcement:

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