Here’s the thing - I have been hearing doom and gloom about SF for 20 years. It will do fine
Bust is an overloaded term. The proposition here is that San Francisco is entering a multi year recession.
San Francisco faces fiscal chaos
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Re: San Francisco faces fiscal chaos
#62Here’s the thing - I have been hearing doom and gloom about SF for 20 years. It will do fine
The 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.
Re: San Francisco faces fiscal chaos
#63Earlier quoted context omitted.
I don't have all the solutions, but I'd probably find a working model from another country and try to find a way to apply it here rather then this nauseating, arrogant, and ineffective strategy of just dumping money down an unaccountable hole and never demanding any results. SF voters are to blame ultimately for enabling this behavior.
See country = federal government. If California has a perfect homeless solution that it’s peer states don’t share in. California will see immigration of homeless from other states.
Not necessarily... SF could copy a policy from Amsterdam or Copenhagen. My point is just look for a working example and model it off that. You're look for an arbitrary semantic difference to invalidate it. SF has the budget of some small countries and California has a budget bigger than actual countries. The money isn't the issue--it's how it's squandered and wasted on unaccountable half-brained solutions.
Re: San Francisco faces fiscal chaos
#64Earlier quoted context omitted.
> San Fran was simply unpleasant - the people were rude (young and old) and everything cost too much. The taxes were insane too. Tangential, but I feel the same way about NYC. I have lived in SF for ~3 years and have now been in NYC for ~4 years. I guess cities, that are HCOL, tend to exacerbate the (low and high income) class disparities, and maybe also heighten residents' stress and reduce their patience levels?
Are you a west coast native? As a new yorker (and nj native), I've found that west coasters often think we're rude but I see it as just our communication style. We often interrupt and speak over each other, and really don't like being interrupted on a commute (which is often just walking somewhere). Since working more with west coast devs, I've learned to be "nicer" when communicating. But still have the same habits…
I grew up on the East Coast. When I moved to the West Coast, I found folks on the West Coast much nicer.
One of the first people I met on the West Coast was about to move to the East Coast ... "because everyone's so much nicer there".
Either the people are always nicer somewhere else or something else is going on.
Re: San Francisco faces fiscal chaos
#65Earlier quoted context omitted.
I don't have all the solutions, but I'd probably find a working model from another country and try to find a way to apply it here rather then this nauseating, arrogant, and ineffective strategy of just dumping money down an unaccountable hole and never demanding any results. SF voters are to blame ultimately for enabling this behavior.
See country = federal government. If California has a perfect homeless solution that it’s peer states don’t share in. California will see immigration of homeless from other states.
[deleted]
Re: San Francisco faces fiscal chaos
#66They missed a great headline opportunity: 'Frisco faces fiscal fiasco.
Re: San Francisco faces fiscal chaos
#67Here’s the thing - I have been hearing doom and gloom about SF for 20 years. It will do fine
The 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) o…
I 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.