Bankruptcy: Expected Legacy Of Tucson Mayor Rothschild
As the fifth poorest metropolitan area in the country, Tucson has teetered on the edge of bankruptcy for years. Under the inept leadership of Mayor Jonathan Rothschild, his politically focused City Council, and its anti-business reputation, a Chapter 9 bankruptcy for Tucson is just around the corner.
Although some Councilmembers seem to be aware that the policies adopted by leadership are certain to doom Tucson, none of the members appear to have the clout or character to stop the run-away train heading off the financial cliff. Councilman Steve Kozachik complains about the reckless spending policies, yet lacks both the character and the power to influence others on the Council.
It could be that because the bitter Kozachik only complains. His fellow Councilmembers long ago stopped listening, or they simply cannot understand what it means to be fiscally responsible with a budget. Whatever the case may be, their actions – or lack thereof – have led Tucson to the financial brink.
According to an article in Forbes, “unless you’re a municipal bond holder, life is likely to go on as usual” when Tucson finally files its Chapter 9 paperwork.
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