Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
A federal judge has issued a ruling saying the city of Stockton, California would be unable to offer basic government services without bankruptcy protection.
The city’s troubles are attributed to a severely decreased tax base in the wake of the U.S. housing market crash. The tax base of the city declined 70% in the last few years.
Stockton’s creditors has opposed the judge’s action saying that the city had not cut spending enough nor sought a tax increase to avoid bankruptcy. The ruling gives the city protection from the creditors while it negotiates repayment.
The city cut its police force by 25%, fire department by 33% and 40% of employees in all other departments. Wages and medical benefits were cut across the board. As a result, crime rates in the city have surged higher.
The city’s budget deficit fort his year will be $26 million.
