San Bernardino, which owed almost $10 million on its pension bond debt ever since it declared bankruptcy in 2012, has defaulted, according to Reuters. Since September, the city has avoided dealing with the bondholders, who have been left out in the cold.
Last August, Judge Meredith Jury of the U.S. Bankruptcy Court for the Central District of California ruled that San Bernardino, California could declare bankruptcy, even though the city had stopped paying the California Public Employees’ Retirement System (CalPERS) the money CalPERS was owed.
More @ Breitbart
There will be more. Many more.
ReplyDeleteI imagine so.
DeleteThat's what happens when you permit your county to be flooded with people who don't pay taxes and instead suck tax-payer provided benefits, coupled with a payroll and retirement system that was created in the 60's when there were plenty of taxpayers.
ReplyDeletepermit your county to be flooded with people who don't pay taxes and instead suck tax-payer provided benefits,
ReplyDeleteInsanity reigns.
Charlotte has a 15m deficit to deal with so what do they do?
ReplyDeletePropose cuts to fire stations, police and schools.
They weren't phased by forgiving the debt for nascar's hall of fame though...
http://www.foxsports.com/nfl/story/charlotte-city-council-votes-in-plan-to-forgive-loans-on-nascar-hall-of-fame-011315
We're looking to buy land. You think it's anywhere close to NC or Charlotte?
NNNOOOPE :)
We're looking to buy land.
DeleteWhere are you considering?
The death of America d/t not having a legitimate gov and the mass influx of
ReplyDeleterot-gut third world parasites, along with the liberal communist movement which
has erupted since the communist/marxist Obama was pushed into the spotlite
by unseen forces.
the communist/marxist Obama was pushed into the spotlite by unseen forces.
DeleteStill can't believe it.