4 ms·
Here’s the thing - I have been hearing doom and gloom about SF for 20 years. It will do fine
by dmode 6y ago
Here’s the thing - I have been hearing doom and gloom about SF for 20 years. It will do fine
- ipnon 6y agoBust is an overloaded term. The proposition here is that San Francisco is entering a multi year recession.
- hiram112 6y agoThe problem has always been the pension obligations, specifically the medical costs. The math cannot be disputed. The reason why it really is different this time is because the Boomers will reach end of life, whether they like it or not, and medical costs rise exponentially in the last few years. States and localities who were in decent shape until now will be able to weather this storm by raising taxes (even more) on the younger generations. In California, there isn't anymore left to squeeze due to Prop 13.
- dmode 6y agoI mean California had a $27bn deficit 10 years back, but ended up with a $15bn rainy day fund. Even back then, I heard the exact doom and gloom. I will wait and see how this plays out.