Municipalities: Me too!

San Jose mayor Chuck Reed:

Reed created a minor furor Friday when he told an Associated Press reporter he would seek 2 percent of the bailout, or $14 billion, for San Jose — an eye-popping figure, given that the city’s entire annual budget is $3.3 billion. Reed later told the Mercury News that his remark was “off the cuff,” and based on the fact that the city contributes more than 2 percent of the nation’s gross domestic product.

“It’s just a number I can do in my head,” he added.