Why is it that politicians cannot learn from their past mistakes? They get into trouble through overspending, then think they can rectify everything by spending more, or following the same program of disaster that got them in trouble.
An example is Stockton filing for bankruptcy due to their mismanagement, and now trying to buy their way out of it. They should look to San Bernardino. They found out when filing for bankruptcy that their fire and police average salary was more than the average salary of their citizens. Along with the perks of super retirement and health care, it is no wonder they declared bankruptcy. Ditto Stockton. Bring their income and health care into a reality, not what the unions demand.
Then we have the federal government, aka Obama, who wants to reinstate lenient lending for home purchases. We just worked our way out of that one, and he wants us to go back and try it again. We need to go back to the basics of lending that were in existence when a person had to qualify for a loan with sufficient income and work history. Not everyone can afford to buy due to insufficient income or work history.
The city, state and federal governments have to get their heads out of the sands of dreamland.