Portland gets an F in city finances
A 2024 report on city finances report gave Portland a full on ‘F’ for the state of it’s finances. Primarily due to the incredible debt burden of each resident. This isn’t a surprise considering Portland has the second highest tax rates in the country, and is currently facing a $27 million budget shortfall (especially as it’s tax base flees across the state line to Vancouver and businesses increasingly are leaving as well)
Read more about the state of the cities finances as well as thoughts of your favorite other major US cities.
Articles:
One thought on “Portland gets an F in city finances”
It’s all in the rules they set for themselves! It’s time for the average citizen to understand the difference between the government’s accounting rules for corporations via the SEC and those they set for themselves. They even exempted themselves from the 1972 ERISA law that required corporations to include pension liabilities on their balance sheet. Because of that law, most businesses went to 401K’s because the new rules exposed the true cost of the pensions, and corporations couldn’t afford them anymore. Truth in Accounting is all about leveling the playing field: government accounting shouldn’t get “special” rules and definitions; it’s only led to unsustainable debt and a uniformed electorate. Thanks for quoting our work Matt! https://www.truthinaccounting.org/news/detail/erisa-and-the-governments-convenient-exclusion