Sunday May 2, 2010
A report by three CPAs suggests that the City of Houston is broke and probably needs to take Bankruptcy. Interestingly Bill White, the past mayor of Houston is running for governor, we report, you decide.
Professor Elam
Accounting & Investing Info for San Antonio A & M
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Posted in Audit
One response to “Space City is Broke”
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Very interesting. This prompted me did to a little research on Mayor White. The letter written by the CPAs stated that Houston’s financial woes are a result of overspending and not underfunding. As I read about many of White’s most significant accomplishments, they all seemed to have one thing in common – there was obviously a notable cost associated with each of them. Mayor White “took care” of Houstonians, knowing good and well that this is the easiest way to increase one’s approval rating and chances of being reelected. It’s interesting that Houston’s problems are now made public after Mayor White’s third and final term ended at the beginning of 2010. Wonder if this will affect his chances this fall in his run for governor? Probably not. We as voters always say we want fiscal responsibility, but truth is, we often only want fiscal responsibility when the expenditures don’t directly benefit our lives.
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