Silicon Valley Cities Financial Health

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.

City County Population Status
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.

Silicon Valley Power: Area Rate Comparison How would you compare the various cities in Silicon Valley? How does Austin compare to Silicon Valley as a place to live and work (in tech)?
Best/Worst States for Business
California and Bust
San Carlos mayor focuses on budget struggles in state of the city speech
Top administrators shamelessly try to cook the pension books
California $100,000 Pension Club databases
Fire the Teachers and Police and Re-hire Them?
California Bondholders Pay for Pension Explosions

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