The Palestinian Authority is facing its “worst financial crisis” yet, according to a PA official, because of a foreign aid shortfall and the rejection of a $100 million loan by the International Monetary Fund.
If you study the state budgets over the last few years as I have, you would see that we have had a deficit at the end of each year that keeps getting larger each and every year. Even when revenues were perceived to be at a peak, we were outspending those revenues. The state budget began each year in the hole that just got deeper as the months went by.
Shock. Disbelief. Disappointment. Frustration. Anger. Cynicism. Sadness. All were in large supply among supporters of the Jewish Community Centers of Greater Los Angeles (JCCGLA) during a round of public meetings held this week to break the news of the JCC financial crisis.
The financial crisis facing Jewish Community Center (JCC) programs and locations this week will come as an awful shock to tens of thousands of area Jews, and it should (see story, page 14).\n\nJCC officials and Federation lay leaders and staff stress there is no cause for panic. They believe they can work out a way to save the majority of JCC programs and locations. (The Federation is the largest donor to the JCC system.) But there is no question that without immediate community response, the JCC system faces severe cutbacks.\n
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