LOS ANGELES (CBSLA.com) — Poverty, weak job creation and other issues currently plaguing Los Angeles could leave the city “sinking into the future,” according to a report released Wednesday.
The report titled A Time For Truth (PDF) from the Los Angeles 2020 Commission, which was convened to study and report on the city’s fiscal stability, warns the city is suffering from a “crisis in leadership” and a lack of confidence on the part of investors.
“Los Angeles is sinking into a future in which it no longer can provide the public services to which our people’s taxes entitle them and where the promises made to public employees about a decent and secure retirement simply cannot be kept,” the report stated.
KNX 1070’s Ed Mertz reports several pressing issues cited by the commission include poor economic development, traffic, a declining school system, budgetary cuts and deficits, rising pension costs and other…
View original post 471 more words