FT.com / US / Economy & Fed - US state steps in to meet city’s debt cost
"The state of Pennsylvania has stepped in to help its capital city Harrisburg avoid a default by advancing next year’s state aid so that the money can be used to make a $3.3m bond interest payment due this week.
On Sunday, Ed Rendell, the governor of Pennsylvania, announced a $4.3m cash transfer and said missing the bond payment was “not an option”."
The collapse is coming!
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