Philadelphia, which may close a quarter of its schools by 2017 to save cash, has to boost pay for firefighters even though the city’s fiscal overseer says that would “blow up the budget.”
U.S. cities expect their financial strains to worsen as the slide in real estate prices that began four years ago cuts deeper into property-tax collections, according to a survey by the National League of Cities .
Cities from New York to San Jose, California, facing almost $400 billion in unfunded pension liabilities, will be watching what San Diego Mayor Jerry Sanders calls his “ radical idea ” to cut costs.
"A majority of their costs are tied up in people."
- Christopher Hoene on Jul 24, 2012