EXPLOSIVE TKC EXCLUSIVE!!! $30 MILLION IN DEBT ALREADY PROJECTED FOR KANSAS CITY THIS FISCAL YEAR!!!
KICKASS TKC TIPSTERS are wisely noting that this town is headed toward bankruptcy.
The latest news regarding KC's finances isn't good and points to the absolute failure of Mayor Funky to uphold his "smart with the money" promises. At this point, KC is facing financial hardship unseen since The Great Depression. What's worse is that so many don't understand the gravity of this town quickly running out of cash and would rather believe silly PR about a few bucks KC took in for some lame concerts rather than recognize the overall dire straits Kansas City faces financially. The facts are frightening:
KANSAS CITY IS ALREADY $30 MILLION BUCKS IN DEBT WITH ANOTHER HALF OF THE FISCAL YEAR LEFT TO GO!!!
There's no telling what could happen next . . .
Mayor Funky could file another costly lawsuit against KC.
Co-Mayor Gloria Squitiro could lose more money for this town with her bare feet and big mouth.
And sadly folks are hoping that the economy will improve and save our neck. Not likely.
What's worse here is that Kansas City's current crop of leadership is completely unable to handle this problem. Most of the Council is barely equipped to keep Gloria Squitiro at the gates of City Hall threatening to bring her reign of terror back to the 29th floor. And Mayor Funkhouser is nothing more than an irrelevant joke, with no political capital or capability to accomplish anything more complex than a radio appearance. The lone standout in all of this has been Deb Hermann, the Finance and Audit committee chair who impressed a lot of the folks I know in Midtown when she clearly laid out the financial predicament KC faced in a series of public meetings during last year's budget crisis.
Even more troubling . . . This economic hot mess has revealed that City Manager Wayne Cauthen is accountable to no one and recommendations for his office to trim the budget have been mostly ignored. Even worse, the firings undertaken were so sloppy they resulted in a lawsuit that only encouraged more division and distraction in this town.
I'm not optimistic that KC can deal with 2 years of hardcore debt in a row. Last time around everyone was counting on Obama for a bailout but that money has yet to make a real impact on this town. The sad thing about all of this is that there are some politicos with the nerve to claim that the slightly lower debt burden coming up this year versus last represents some kind of progress. Nothing could be further from reality.
There's nothing left to cut without the public seeing some drastic changes in local life, the so-called Downtown Renaissance was unable to spark sufficient growth to make up for spending and OBAMA IS NOT COMING TO SAVE US . . . Kansas City is already $30 Million in the hole and it's only going to get worse. The only bright spot I can find is that AWESOME TKC TIPSTERS brought this news first. Natch.
posted by Tony Permalink
Good stuff T.
Let us all relax. It is not so bad now that the Fire Union has control of MAST ambulance and is the most powerful influence in city all. We can all rest easily knowing that Louie Wright has it all under control. Thank Councilman Johnson for this. We are very lucky here to have such a powerful union dominating political decission making. Every one have a nice day.
Sly Stone will save us. Vote for SLY
Did you know there is a historic event taking place in Kansas City. on Saturday Oct 24th, hundreds of local dancers will join thousands in over 100 cities around the world in a World Record Breaking Performance of Michael Jackson’s Thriller. This Food Drive event will feature vendors and a variety of live entertainment and silent auction to support The Children’s Place and the Bishop Sullivan Center. http://www.thrilltheworldkc.com
More taxes! Increase the KC income tax AND lets create another sales tax.
My God...and kansas city is the only city in the US facing revenue shortfalls. Woe is us.
Definitely need more tourism. More TIFs, cut the police force, bail out Union Station. An NBA team would surely help. Its not about finances, it about how we see ourselves. If we were a truly hip city none of this would be happening.
this is not funk's fault this is city manager wayne cauthen and former mayor kay "credit card" barnes fault. just send the bill to the tif developers.
2 years and still blaming K? Bullshit.
Wow with all of these money problems it's a good thing the mayor isn't currently making costly renovations to their offices.
point plankn
I agree with 09:00:00! A lot of this IS K's fault -- the projections for the Power & Light District were pure nonsense! How could anyone expect a development of that magnitude to continue to increase the taxes it would generate from food and entertainment for 23 to 30 years??? There is simply no entertainment area in the world that can keep attracting money that many years in a row without continually re-investing and reinventing itself. And the initial projections were obvioulsy unrealistic, too, as shown by it's poor performance. Wayne and Kay gave away this city to AEG and Cordish.
Don't forget how much revenue they drained from existing business that went tits up.
There simply is no way to blame anyone for our City's failures, or, to credit one single person for our successes. The fact is we as a whole voted for the Power & Light District, and many other issues placed on the ballot. One of the strongest points made in a previous post is that we must reinvent ourselves, or, our City in order to compete and succeed. Tony's right, we're headed for bankruptcy, along with many other U.S, Cities. The question is, do we waste our time & energy placing blame, or, do we forge ahead reinventing ourselves?
The MAST pension buy in ADDS 17 to 32 million dollars on top of that hot mess. What a fucker funk'd turned out to be!!
unbelievable (and not just because it's on Tony's blog) but I know this stuff is a fact. Where is The Star?
Sad the Mom and Pop businesses that gave KCMO it's uniqueness are gone.
They could not compete with businesses bank rolled by the city.
Downtown is dead.... you can't keep pouring money into it.
12:31 pm -- that money will just "fall off the table" to quote the union people. It's only 17 million.
To not so fast hermano-I fully agree that turning MAST over to the fire department, or, the city is a terrible idea that will cost us all dearly in the end. Whats the solution? Find the SAVE MAST petition and sign it! Hopefully we'll get one last chance to vote to return MAST to its previous position. Hopefully!!
keeping the mast pensions out of city hall alone would be worth it.
This city has been "reinventing" itself for 40 years. That's what TIFs, convention centers, arenas, light rail etc are all about. Fact is they sort of work in a few cities where the trust fund babies live but for the most part these ideas just fail miserably.
Here's a reinvention idea. Send the hipsters to NY or SF and produce a livable city that can attract business without bribes.
Anon 04:08 for mayor.
That comment should be engraved on a plaque and hung in city hall.
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See what shits Kay Barnes left - $2.8 billion debt
http://www.kcmo.org/finance/cafr08/47debt.pdf
That would be $30,000,000 in general fund shortage. And lets see, where does a majority of the general fund go, hum, fire and police. Will their budgets be cut?
I love it.
Fuck You, Tony ! Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !Fuck You, Tony !
I'm sleepy.
Someone figured out copy and paste! It's so neat what these computers can do.
You know one fuck you will do just fine.
Idiot.
Good post, Tony. Here's hoping the citizens will wise up to who is doing the heavy lifting in city government and making the tough decisions... and who is not carrying them out.
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