Earlier this week Baltimore released its first 10-year fiscal forecast, and its predictions were not good.
According to the outlook, during the next decade the city is facing a combined $745 million operating budget deficit, a $1.1 billion general fund infrastructure deficit and $3 billion in unfunded retiree liabilities between fiscal years 2013 and 2022.
"In the coming days and weeks, starting with the State of the City Address on Monday, I plan to propose a bold set of major reforms to address the fiscal challenges outlined in the 10-year forecast. The reforms will focus on eliminating the deficit, making modern investments, and changing the city’s tax structure to make Baltimore more competitive for growth," Mayor Stephanie Rawlings-Blake said in a Monday news conference, according to her prepared remarks.
What Are Your Thoughts on Baltimore’s Looming Fiscal Crisis? Share your thoughts and solutions on how to address this issue in the comments section.
-No need to try out policies in the real world just yet. See if they make sense on the simulation a few times. -A good policy may have unintended consequences which could show up in the simulation. Better there then in real life. -The game forces you to balance a budget, or at least not be in debt for too long -Anyone could download the city and try their own solutions. -If enough people engaged in it and submitted their results, the data collected could also lead to productive policy
I know none of this will happen so I am afraid I see no good future for Baltimore City.
Unfortunately, the "news" of the city is not about revitalization, but of shootings and stabbings. The suckers who purchased homes in Federal Hill and Fells Point and Canton before they had kids are now stuck - paying double the real estate taxes and astronomical insurance costs. "Strategic" defaults now in order. The opening story on the local networks are always "4 People dead in fatal shootings in East, West, or South Baltimore." Unfortunately, this will not change. I could be wrong, but I did notice some of the luxury model car dealers are not at the Convention Center for the auto show. I wonder why that is? Good luck to the Mayor, she needs it.
Another thing that needs to be done is to give Baltimore a real edge in attracting employers. I would start by reducing the corporate, personal property, and business property taxes to 0%. It has worked for Hopkins and the church and will bring large for-profit companies that will create jobs and attract gainfully employed people to this city. We attract 50,000 new jobs we'll add 10K new residents.
In short, the city needs to cut spending (sorta like going from the $8 hotdogs to the $4 hotdogs, that we families do all the time.--There are clear ways to trim how much we expend on the items we consume, as a city.) Secondly, the city needs to increase it's taxpayer base --ie, Population. --- This is done by retaining a percentage of the ~200K college students that cycle through Greater Baltimore every year. We need nightlife, housing and jobs. --There are roughly 20K tech industry jobs in this area. --30K Boarded up homes, and --Tons of space to build new hubs, around the city. We can start here. Email me for more! #Good2Bmore! -RCB
In short, the city needs to cut spending (sorta like going from the $8 hotdogs to the $4 hotdogs, that we families do all the time.--There are clear ways to trim how much we expend on the items we consume, as a city.) Secondly, the city needs to increase it's taxpayer base --ie, Population. --- This is done by retaining a percentage of the ~200K college students that cycle through Greater Baltimore every year. We need nightlife, housing and jobs. --There are roughly 20K tech industry jobs in this area. --30K Boarded up homes, and --Tons of space to build new hubs, around the city. We can start here. Email me for more! #Good2Bmore! -RCB State Representative 43rd District, Central Committee www.RodneyBurris.com