If you noticed the news over the past week or two.....another California city is declaring bankruptcy. We aren't talking about a small town of 4,000 residents.....this is San Bernardino (population of 209k). The cause? Well.....they kind of go around in circles and come to admit that they have a problem with the stumbling economy. Tax revenues are down, which trigger people to talk cuts. But cuts are fought at every point by people trying to protect their "empire". Eventually, they come to mention that they kept getting these balanced budget reports, and kept thinking there really wasn't an issue. The impression is that budget department just didn't know what the heck they were doing.
The emphasize now? It's bad enough that they'd consider just disbanding most everything run within the city....privatize what they can, and contract out fire and police work to the county. You'd end up with less cops, less fire protection, and less of everything else.....but generally pay the same sales tax and the same property tax. This would usually invite a heated discussion if you live in any of the other forty-nine states, but this is California.
So the question comes up to ponder......would you move to a bankrupt city?
A guy would sit and think about this. Maybe your gal Wanda wants you to settle down, and asks you to move to this town where she grew up, and you find out they are bankrupt. Maybe your living status in life is screwed up and it's time to move back home....into such a town. Maybe you find this great business opportunity to own your own Dairy Queen, in a bankrupt city. Maybe you've found this great real estate deal for retirement purposes, but it's in a bankrupt town.
Can you get past the point of moving to a bankrupt city?
My guess is that most folks would start to ask questions. What kind of idiots run this city? What kind of people elect idiots to run this city? What kind of idiots hand out outrageous pensions? Can people manage their own personal funds, if they are screwing up public funds?
After a while, the questions start to mount, and you feel like opening up a bottle of Jack Daniels. That's the only way you can find comfort in accepting a move to such a city. You'd find immediate fault with every single city employee that you meet up with. You'd find fault with the city council members. You'd find fault with the mayor. It'd start to bother you that folks run a city like some kind of bar where double shots are poured into each drink but charged as one.
My humble guess is that most folks would decline the move, and just stay where they are. Why add more stress onto your life....complaining about how a city runs itself?