With Baltimore’s population and investments plummeting, and poverty and unemployment skyrocketing, the city is expected to go bankrupt within a decade, the report said. The city will accumulate $745 million in deficits over the next 10 years because of a widening gap between revenues and expenditures.
When factor such as the costs of infrastructure needs, pensions and retiree health care are taken into account, the problem looks even worse — the total shortfall reaches $2 billion by 2023, the report found.
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16 comments:
The next Detroit. That's right keep being a slave to the democrats.
Not to worry...The state of maryland will levy more taxes on the Eastern Shore to give to Baltimore. They now receive at least 10 times more than the whole e.s.
Don't be fooled, this situation is the driving force behind "Smart Growth". In a last ditch effort to save the failing city, the State has created laws redirecting growth into the blighted metropolitan areas.
This doesn't look so good on O'Malley's presidential resume. Obama has run the Country into a ditch. O'Malley could finish it off!
Hold on to you wallets, more taxes for anyone willing to work.
and owe mally has the state on the same path.
No wonder these crooks need their gun TAX....errrrrr Fees. What a joke.
i think the time is ripe for the eastern shore sever ties with the other side of the ditch. economically we can support ourselves without the albatross of baltimore around our neck. plus we'll have our ccw's w/out being taxed to death for it.
"...With Baltimore’s population and investments plummeting..."
You mean WORKING population plummeting, right?
Shining example of what o'taxie will do if he is elected as president.
Its Omallys legacy coming to a head..the same is gonna happen to the state ...what a incompetent waste of space he is. HIS attempt yesterday to circumvent the the 2nd admenment will lead to another abysmal failure.. Anything he has a hand in has failed.....
The same path Barrie Tilghman and the fool Ireton put Salisbury on.
While Ireton is running around pointing the finger at everyone but himself and promising pet projects to everyone who wants one, the infrastructure is crumbling.
I was always taught great customer service is to under promise and over deliver to the customer. All the politicians reverse it and over promise and under deliver in each and every case starting with the president, congress, state, and local governments. This country is at the brink and people are not going to be pushed around much longer. Our founding fathers fought to give us freedom, the Constitution, and the Bill of Rights. We can not continue to sit by and let idiots take away each and everyone of our freedoms. obama is not a king, he really is nothing but a prideful mocker who has nothing going for him but a mouth and that my friends isn't much at all.
All citizens if you are working or not should be concerned.
Hey Baltimore:
Move over, here comes Salisbury down the chute with you!
WTG, marty!
Owe'Malley will reflect all blame away from himself with the help of the main stream media, and it will work.
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