Daily Archives: May 28, 2010

Antioch California May File for Bankruptcy

Another California city may file for bankruptcy: Antioch. The San Francisco exurb 45 miles northeast is in financial dire straits.Reuters:

Antioch’s leaders earlier this month said bankruptcy could be an option for the cash-strapped city of roughly 100,000 on the eastern fringe of the San Francisco Bay area.

Antioch’s fiscal woes are standard issue for local governments in California: weak revenue from retail sales and property taxes is forcing spending cuts, layoffs and furloughs.

Cost cutting measures won’t help:

But cost-cutting measures may not be enough to keep Antioch’s books balanced, so its city council is openly discussing bankruptcy.

“We just want to alert people to the possibility,” Antioch Mayor Pro Tem Mary Helen Rocha said.

Read The whole thing.

Obama: Answer on Sestak Scandal Coming Soon

President Obama says an answer on the Sestak Scandal is forthcoming. The president made his remarks during his first presidential pres conference on Thursday. The scandal involving Representative Joe Sestak(D-PA) in his primary fight against outgoing US Senator Arlen Specter(D-PA); the allegation of a job offer in the administration so Specter would compete against former Congressman Pat Toomey(R-PA) Fox News:

President Obama said Thursday that the White House is preparing to issue a formal explanation regarding the allegation that it offered Rep. Joe Sestak a job to drop out of the Democratic primary race against Sen. Arlen Specter.

The president, addressing the matter in public for the first time since the Pennsylvania congressman leveled the claim in February, said the statement should answer questions about the claim and insisted “nothing improper” happened.

“There will be an official response shortly on the Sestak matter,” Obama said, when asked about the issue by Fox News at the president’s press conference. “I mean shortly — I don’t mean weeks or months. … I can assure the public that nothing improper took place.”

Sestak wins eventually the primary over Specter.

Meanwhile, Rep. Darrell Issa(R-CA) is demanding answers:

Rep. Darrell Issa, R-Calif., who has been leading the charge for more details on the allegation, said he hopes Obama’s pending response “will detail what conversations were had with Congressman Sestak.”

“If what the president said is true and nothing ‘improper’ took place, Adm. Sestak’s credibility will be called into significant question,” Issa said in a statement. “If the president’s response is insufficient or contradicted, the situation will only escalate.”

Fox News