As we go to work tomorrow and the next day, the reality of the City of Houston’s financial condition will continue to be glossed over by city leaders. Only recently did the city’s finance director announce that the city is out of magic tricks. They have sold every city asset with any value and these one-time cash infusions used to balance the city budget are over. It took us a few years to get here; but, I am now of the opinion that it is time to file for bankruptcy.
In case you missed it, I previously wrote about the city’s financial problems when council members called a special meeting to address the fire union contract. The city’s firefighters struck a backroom deal with the ……….. read more here.