Well with Over 70 percent of the city of L.A. general use funds are spent on salaries and benefits for police and firefighters,
city pension costs have increased at a 25 percent average annual rate over the last decade.
In fiscal year 2002-03, pensions consumed 3 percent of the city’s budget. That is projected to jump to 18 percent, or $1.3 billion, this year, the report stated.
Unfunded liabilities – the amount of extra money the city has to pay to meet its long-term obligations – have increased from $87 million to $9.4 billion in the past 10 years. The report states that using a more realistic investment return rate, the figure is probably nearer $26 billion.
I think you can close all the libraries and it will not make any difference.
So I guess you are left with lot less police/fire people hmm don’t think that will fly.
