As reported in JSOnline.com:
Despite repeated warnings, Milwaukee County has failed to fix deep-rooted budget problems that could blow up in a few years, says a study by the nonpartisan Public Policy Forum released Tuesday.
The county’s long-term solvency may require state or other intervention unless Milwaukee County Executive Scott Walker and the County Board cooperate on a long-term plan to stabilize county finances, the forum report warns.
In short, the county’s “long-term fiscal outlook is grim,” the report says. The county’s own figures show a widening revenue gap that could reach about $88 million by 2013 despite years of budget cutting, the report says.
The fringe benefit costs for county workers and retirees grew by 71%, or $73 million, from 2003 to 2007, the period the study analyzed.
My guess is that Milwaukee County will be forced to declare bankruptcy by 2018 if they keep doing/acting/leading like they have been.
Filed under: Milwaukee/Wisconsin |