In a shocking turn of events, governments lack perspective and priorities when it comes to spending tax money. Cities pay huge salaries despite fiscal crises:
In Vallejo, a midsize city of 121,000, there were 292 municipal employees who earned more than $100,000 last year. But in Oakland, with roughly three times more residents, 1,333 city workers were paid six figures in the same period. San Jose, a city of almost a million people, had 2,312. And San Francisco, which serves as a city and county government for its 809,000 residents, had more than 8,000.
None of the region’s largest cities faces the imminent threat of bankruptcy, but all are weathering their own financial crises – even as firefighters and police officers often earn more than City Hall department heads.
You think that institutions that think they can spend themselves out of bad times or can spur development by taking out risky mortgages instead of reducing barriers to entry and regulation would foolishly line the pockets of the participants even when financial times are tight?
If not, you’re obviously not cynical enough or you’re trying to save your phony baloney job by diverting the attention of the citizens. How about a sports team to distract them?