San Bernardino, California, filed for municipal bankruptcy after disclosing a $46 million shortfall in the city’s budget, the third California city to seek court protection from creditors since June 28.
quote: I hope they can pay their bills, other cities from Liberal Utopia haven't fared so well.
“All of our vital service bills will continue to be paid,” Morris said. “We are going to keep our city services running.”
San Bernardino, a city of 209,000 about 60 miles (97 kilometers) east of Los Angeles, listed assets and debt of more than $1 billion in a filing yesterday with the U.S. Bankruptcy Court in Riverside, California.
This post was edited on 8/2 at 2:54 pm