San Francisco continues its death spiral towards bankruptcy. That fact hasn’t stopped city leaders from continuing to spend wildly however.
The San Francisco Examiner reports that the city’s cumulative budget deficit over the next two fiscal years is projected to be $262 million out of an annual budget of roughly $10 billion. According to experts, the deficit keeps growing.
The biggest costs — health care and pension payments. In reality, San Francisco is $10 billion in the hole…and the hole keeps getting deeper.