Local Officials: State Budget Plan Is Giant 'Ponzi Scheme'
The Sun (San Bernardino, CA) › July 23, 2009
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Summary
LOS ANGELES - A group representing 188 California cities Wednesday condemned a proposed state budget as an "irresponsible Ponzi scheme" and threatened to sue the state if the legislature enacts it.
The League of California Cities presented its plan at a downtown news conference attended by several officials from the San Gabriel Valley.See the full content of this document
Extract
Local Officials: State Budget Plan Is Giant 'Ponzi Scheme'
"This proposed budget is in fact nothing more than a smoke-and- mirror scam," said Duarte City Councilwoman Lois Gaston, who is also president of the California Contr...
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