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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (148450)	1/30/2015 12:46:56 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 149319

"TX's oil boom has generated a great deal of that state's success" Majority leader's home county goes belly up... Kern County supervisors declare fiscal emergency By Kyle Harvey, Eyewitness News Published: Jan 27, 2015 at 6:45 PM PST Last Updated: Jan 27, 2015 at 6:57 PM PST BAKERSFIELD, Calif. (KBAK/KBFX) – The Kern County Board of Supervisors on Tuesday voted to declare a fiscal emergency, allowing the county to tap into its $40 million reserve fund. Officials attribute the emergency mostly to a steep drop in property tax revenues because of stubbornly low oil prices. The Assessor’s Office has announced a $61 million drop in forecasted revenue because of lower oil prices. The lower revenues – paired with escalating pension costs and higher law enforcement costs because of the planned jail expansion - contribute to what officials say is a $27 million deficit looming in the 2015-16 fiscal year. bakersfieldnow.com