crisis adversely affects not only the activities of firms. One of the largest U.S. cities - Oakland, California threatens bankruptcy. The city has a huge budget deficits, no funds to pay salaries, and the authorities need to pay California taxes on 17 million dollars more.
In such a situation, the deputies intend to declare the city bankrupt. If that happens, Oakland will be the first city, failed because of the crisis, writes the Los Angeles Times.
In this situation, tend to accuse the Governor of California Arnold Schwarzenegger. The new version of its budget the tax burden on the city increased by 17 million dollars.
It turned out that the financial plan the city can not survive. Therefore, the deputies are trying to cut costs in every possible way. Among other things, to try to negotiate with trade unions and social services to lower salaries by 10%. If they can not cover the budget deficit, the eighth largest city in the U.S. will be bankrupt.
remind, in February, Schwarzenegger signed a plan to close the budget deficit, California in the 42 billion dollars, but the shortfalls on taxes created a new hole in the 15.4 billion
May 14, he announced measures that could help the state get out of debt. Thus, the Governor intends to implement a short-term loan of 6 billion dollars, further reducing the cost of 5.6 billion, to get 1 billion accelerated payments and new charges. The decrease is expected in the field of education - to 3 billion dollars, health care - 750 million and 234 million - in some pilot areas.
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