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Tue Feb 19, 2013, 05:30 PM

Is Baltimore going bankrupt?



According to a 10-year forecast commissioned by the Baltimore City government, major financial reforms will be needed to steer clear of a projected bankruptcy. The report projects that the city will accumulate $745 million in budget deficits over the next decade because of a "widening gap between projected revenues and expenditures." By taking steps proactively, Baltimore hopes to avoid the fate of Jefferson County, Alabama, and Stockton, California, two municipalities that recently filed for bankruptcy. However, there are some who question whether this newly released projection is the reason for the proposed budget cuts or if the report was commissioned to justify budget cuts that were already in the works. Chris Delaporte, former Baltimore City Recreation and Parks director sees the report as window dressing to direct attention away from a more serious lack of financial oversight. The report was designed to address the fiscal issues that plague the city, but the question now is whether this forecast will lead to positive changes, or if it's just politics as usual.


Thank you repukes for sending another city into bankruptcy!

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