For now, fears of an imminent recession have receded.  But things that can’t go on forever, don’t. After ten years of economic growth, most California cities are still vulnerable to crisis when the next recession hits. 

Santa Monica is not one of them.  Overall, we were classified at “low risk.” Yet despite our AAA bond rating, our risk level was higher than nearly 30% of California cities, according to the State Auditor.  Why?

One word: pensions. 

Read More: https://www.santamonica.gov/blog/rick-cole-while-fiscally-strong-santa-monica-must-continue-to-prepare-for-the-recession-that-s-coming