The State of California is bankrupt, with a $20 billion/year operating deficit and $1 trillion pension deficit.
Not much one can do about that if you’re a state resident, but some Silicon Valley cities are doing better financially than others.
|San Carlos||Santa Clara||Struggling (City Pensions, 4 failed tax increase initiatives)|
|Santa Clara||Santa Clara||Borrowed $1 billion for stadium construction|
|San Jose||Santa Clara||Bankrupt (City Pensions)|
|San Francisco||SF||Bankrupt (City Pensions)|
|San Mateo||San Mateo||See CDO footnote.|
|Los Altos||OK. 2 tiered since June, 2011|
|Los Altos Hills||OK. Studying 2 tiering.|
|Mountain View||Santa Clara||operating deficit/high pension costs, but significant lease income from baylands|
|Palo Alto||Santa Clara||Bankrupt (City Pensions). Implementing 2 tiering, but financially doomed.|
|Sunnyvale||Troubled, but implementing 2 tiering.|
|Campbell||Santa Clara||One of the healthiest cities.|
Note: San Mateo County lost $155 million from the San Mateo Pooled Investment Fund in bad CDOs in 2008.
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