Nearly two years ago, this column reported on an official financial forecast from the northern California city of Stockton’s bankruptcy proceedings showing that within a few years after exiting bankruptcy the city was likely to re-enter it.
It was an official document, circulated by former Republican Assemblyman and Board of Equalization member Dean Andal, who is well respected for his understanding of fiscal matters. The city pooh-poohed the suggestion – and provided its own economic analysis, although it refused to share the detailed data with the media or the public.