SF Budget Approved

km123's picture

SF City officials approved a $6.5 billion budget this week and closed the $483 million budget gap.

But I fear what repercussions the city with face next year. Unemployment has never been higher. Already, people seeking cash assistance has risen 75 percent just in the past few weeks and the demand for food stamps has increased 41% this past year - that's over 23,000 people in the city.

In the short term, I'm glad that the city has closed the budget gap (though it still needs Mayor Newsom's signature next week), but in the long-term, things are really going to be tough for us - for all of us.

Are politicians merely putting bandaids on our city's problems or do they really have the city's future at heart?

Phil Ting's picture

Bond rating drops

Unfortunately, even though, we were able to pass another budget, I understand the bond rating companies dropped our bond rating because we have not enacted structural reform.  Our revenue and expenses are not aligned.  We need some serious structural budget reform - not via the ballot box - but a comprehensive look at what we can do to reduce expenses and increase revenue.

Paid for by Phil Ting for Assembly 2012. FPPC ID# 1343137