An excerpt from recent editorials in newspapers in the United States:
From The Associated Press
On the troubled City of Indebted Angels:
A few short decades ago, Los Angeles seemed the promised land -- a paradise of year-round sun and fun, from the beaches to the nearby mountains, and a land of economic growth and opportunity. Today it stands on the brink of bankruptcy.
It has had to deal with illegal immigration, which has put a severe strain on social services. But its leaders have also chosen to spend lavishly.
ADVERTISEMENT
Now it's time to pay the piper: Despite a stiff increase in the city's sales tax, from 8.25 percent to 9.75 percent, the city comptroller warns that the municipality would "run out of money" by June 30, and the municipality is slashing basic services -- most recently proposing that it will not repair sidewalks from now on. ...
It looks like bleak times are ahead for the City of Angels -- a lesson for other government enti-ties spending beyond their means.
-- The Providence (R.I.) Journal
