Posted inBay Bridge, News

How Wall Street profits from bridge building

The Bay Area Toll Authority has the unique power to raise bridge tolls without the Legislature’s approval, which it has done repeatedly to pay off the $6.9 billion bond debt amassed so far to build the new Bay Bridge and upgrade six other spans. That makes BATA particularly attractive to Wall Street, which has pocketed more than $122 million in fees to arrange the borrowing.

Posted inAging, California, City Budget Watchdog, City Hall, Government & Politics, Health, HIV & AIDS, News, Social Services

State cuts set to slam San Francisco’s seniors, poor

Already reeling from a deep recession and massive cuts to staff and services in this year’s budget, San Francisco is being hammered by a new tidal wave of state cuts — estimated at $26.5 million — which could put low-income seniors and others on the brink of homelessness and hunger, many advocates say.

Posted inCity Budget Watchdog, City Hall

Supes on: the budget — Mar advocates ‘a people’s budget’

Although San Francisco’s city budget was passed in July, District 1 Supervisor Eric Mar says he believes taking a more fundamental process to passing it is in order.

He advocates having “a people’s budget,” in which the process would solicit more grassroots involvement at “the early levels as opposed to where you have people rallying and begging at the last minute … when they can’t have as much of an impact on the budget.”

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