It’s more complicated than that. In the base case scenario, SF is running $640M deficits every year in five years because expenses are rising faster than revenues. https://sfcontroller.org/sites/default/files/Documents/Budget/Five-Year%20Financial%20Plan%20FY19-20%20through%20FY23-24%20FINAL.pdf …
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This is what people don’t understand about why, Ed Lee, a 1970s tenant lawyer who grew up in public housing, welcomed tech into SF at the beginning of the decade. It was to run in place against the city’s ever growing financial obligations, which it cannot renege on.
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