U.S. is Going Bankrupt One City at a Time

U.S. is Going Bankrupt One City at a Time:

"A NATION WITH A $17 TRILLION DEBT WHO’S PRESIDENT HAS ONLY ONE ANSWER, RAISE THE DEBT LIMIT, WILL ENCOUNTER A FINANCIAL ARMAGEDDON IF THE SPENDING AND BORROWING IS NOT SHARPLY CURTAILED.

 Time to start watching U.S. cities go bankrupt. Prior to Detroit, there was Stockton, California, and, according to Stephen Moore, now the chief economist with the Heritage Foundation, there are more than sixty of the largest cities that “are plagued with the same kinds of retirement legacy costs that sent Detroit in Chapter 9 bankruptcy” last year."