The Voice has a story today about overspending by the City of Chula Vista: high promised pension benefits, a new convention center at the bayfront, and a possible stadium, financed by record revenues received from their development last year. Scott Lewis cautions in the article that they will be in trouble, just as the City of San Diego, over promised pension benefits, and that the building boom revenue stream won’t last.
I was told Arnold listens to Thornberg and his UCLA Forecast. The Forecast warns about lower state revenue next year, decreasing for a few years. I heard Arnold on a media soundbite saying that “these temporary increased funds will be spent on temporary programs only; we will not make a permanent burden on the state with temporary increased revenue” (paraphrased).
Poway runs a tight ship; they were one of the only cities with money during the last recession.
