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Oxnard Council 3-27-18: Pension liabilities could hit the fan; Downtown Revitalization “Parklets”; $48MM in debt renewed.

Oxnard Council 3-27-18: Pension liabilities could hit the fan; Downtown Revitalization “Parklets”; $48MM in debt renewed.

By George Miller Consultants darkly warned the City of exploding pension liabilities and necessary funding, doubling in 5 years and mushrooming for the next two decades. Some off-agenda discussion on disposition of Redevelopment Successor Agency properties, which are taking a long time. Downtown “parklets” plan approved. $38MM debt refinancing and $10MM Line of credit approved. […]

Oxnard Treasurer to be included in approval of debt issues?

Oxnard Treasurer to be included in approval of debt issues?

By Phil Molina, Oxnard Treasurer  . We the People, The City Treasurer, has been added with the City Manager, ​CFO and City Attorney  as one of the city officers who must review and approve the issuance of debt instruments before the proposal is presented to the City Council. ​Thank you for your assistance in getting […]

Watch out for the bond measures ahead — $503,000,000 just in Ventura County!

Watch out for the bond measures ahead — $503,000,000 just in Ventura County!

This June there likely will be 50 to 60 school and college bond measures on the ballot throughout the state. Under Proposition 39, education bonds can pass with the approval of only 55% of voters, not the higher two-thirds threshold for the approval of non-education measures. For this reason it’s important to be aware of proposed […]

Stimulus puts US debt on an upward trajectory

Stimulus puts US debt on an upward trajectory

As part of a pledge to “Make America Great Again,” President Donald Trump and Republican lawmakers are pursuing aggressive economic stimulus while slashing taxes at the same time. The result, budget analysts say, is likely to be swelling debts and deficits for the world’s largest borrower. – A ballooning deficit – America’s budget deficit was […]

Tax cut??? Ha!

Tax cut??? Ha!

By George Miller (originally published 9-29-17- needed re-airing and still seems applicable with only minor changes)   My friends are shocked to hear that I do NOT favor a tax cut right now. You may ask why, or maybe you don’t give a #*@)!. But I’ll tell you anyway: A tax cut without spending cuts […]

The real story behind America’s new $20 trillion debt

The real story behind America’s new $20 trillion debt

By Simon Black, September 11, 2017   Sovereign Valley Farm, Chile Late yesterday afternoon the federal government of the United States announced that the national debt had finally breached the inevitable $20 trillion mark. This was a long time coming. It should have happened back in March, except that a new debt ceiling was put […]

Oxnard Council approves wastewater rate increase; Starr initiates recall of 4 council members

Oxnard Council approves wastewater rate increase; Starr initiates recall of 4 council members

By George Miller   After many months of fighting over wastewater  rates, capital budgets, infrastructure fees, debt, the rate-setting process itself and more, the Oxnard City Council approved  a sharply downscaled rate proposal, over strong objections of some residents/business owners and approval of others.   Assistant City Manager Ruth Osuna, who shepherded the the Prop 218 rate-setting […]

The First Step Toward Fiscal Discipline: Cut Up The Credit Card

The First Step Toward Fiscal Discipline: Cut Up The Credit Card

. By Thomas L. Knapp In 2015, Congress temporarily did away with the US government’s fictional “debt limit.” I call that limit fictional because it’s not really a limit. Every time the government gets close to it, Congress raises it. It’s as if signs on the highway changed to display a number five miles higher […]

California debt now running closer to Italy and Portugal, new study finds

California debt now running closer to Italy and Portugal, new study finds

A landmark study of California’s finances reveals the state’s debt burden is approaching the levels of Italy and Portugal, where debt crises in 2011 and 2012 drove the Eurozone countries to the brink of collapse. The findings come a day after Governor Jerry Brown predicted that the state would end the year with a sizable […]

California Democrats Behave Like Confederates

California Democrats Behave Like Confederates

. By Jon Coupal . For fiscal conservatives and free market advocates, the national elections in 2008 and 2012 brought no small measure of disappointment. In its eight-year run, the Obama Administration imposed a host of new taxes – including several as part of the failed “Affordable Care Act” – and, just as egregious, nearly […]

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