Oakland (Special to OaklandNewsOnline.com) – If you are wondering why Oakland can not get out of debt and is increasingly becoming a city of drugs, homelessness and bankruptcy, here is the reason.
In simple terms if you keep piling more debt on debt, with no intention of actually solving the underlying problem by growing your economy with skilled jobs, industry, energy development, and expanding the export base of our great Port, you will have failed to reverse the underlying reason of what is causing us to have a bankrupt city.
There is an old expression “You can put lipstick on a pig BUT it is still a pig”.
For example, go back to what happened in 1997, when Oakland issued a 15 year holiday from paying the old Police and Fire pension fund. Instead Oakland GAMBLED that they would get a better interest rate to pay the pension fund later. Well, things didn’t work out, Wall Street crashed and Oakland ended up losing big time.
What did the City Council end up doing? They then issued another bond holiday to cover the debt. And then they made another bet with Wall Street and lost again!
As your Mayor of Oakland, this gambling with people’s lives and bail out practice will stop.
Time to face the music Oakland is bankrupt!
We need to do a bankruptcy reorganization, and I refuse to throw good money after bad on all this worthless debt that is destroying our people. We need to do a full audit and get rid of all the wasteful agencies that have been set up, as well as NGOs.
I will re-start up the process of restoring the real physical economy and tax revenue base by building new industries, energy plants, and skilled jobs that will provide a vibrant future for our great city.
I guarantee that necessary city services, such as police, fire, ambulance, health services are fully funded and no cuts to these essential services that Oaklanders need will be touched as the present proposals by the City Council will do.
I will work with President Donald J. Trump and get federal help to get rid of the Fentanyl on our streets. Also, we will shut down the illegal Cannabis warehouses in Oakland.
Finally, I want to immediately meet with the leaders of the Port of Oakland, Fire, Police, Education, Cultural programs Now to establish priorities for my new administration!
And I hereby take a solemn pledge to all of you, If I don’t change Oakland in my first term in Office, you have my word I will not run again.
Oakland deserves Better. Together we can ensure that Oakland will no longer be the Poster Child of Failure!
Contact: Gerald Pechenuk at [email protected]
FPPC # 1477156