Taxpayers vs. Bureaucrats, Part XXVII

Another local government in California is contemplating bankruptcy. That's hardly big news, though, since many California jurisdictions have been bled dry by greedy public sector unions and the city of Vallejo already has thrown in the towel. What is amazing, though, is that the government unions are trying to get the state to pass a bill barring bankruptcy. This is eerily akin to the part of Atlas Shrugged where government officials torture John Galt in hopes of trying to force him to produce. The political thugs in Atlas Shrugged were desperate because people no longer were producing anything they could steal. The pathetic politicians and government workers - both in Ayn Rand's book and in California - obviously don't understand that parasites should not be so greedy that they kiill the host animal. Here's a Reuters excerpt:

Antioch's leaders earlier this month said bankruptcy could be an option for the cash-strapped city of roughly 100,000 on the eastern fringe of the San Francisco Bay area. ...But cost-cutting measures may not be enough to keep Antioch's books balanced, so its city council is openly discussing bankruptcy. ...Orange County Treasurer Chriss Street would not be surprised if more local governments across the Golden State sound a similar alarm. ...Despite its stigma, bankruptcy has paid an important dividend for Vallejo: It has forced public employee unions to the negotiating table, providing city leaders an opportunity to rein in compensation, which city officials said accounts for more than three-quarters of Vallejo's general fund spending. City Councilwoman Stephanie Gomes said the effort has led to concessions from three of four city unions. Like Vallejo, Los Angeles is suffering from weak revenue at the same time the cost of its pensions and other retirement benefits are rising. Former Mayor Richard Riordan said those factors put the government of the second largest U.S. city on track to declare bankruptcy between now and 2014. ...Talk of municipal bankruptcy has not escaped California's politically powerful public employee unions. A number of them are pressing the legislature to pass a bill that would require local governments to get the approval of a state board before filing for bankruptcy. Since the board could be stacked with union-friendly appointees, bankruptcy pleas could be rejected or delayed. "It's a horrible bill," Levinson said. "If you don't have the bankruptcy outlet, what do you do? If you can't pay your bills what do you do?"