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I guess this saying will become true. Once CA goes, so will the United States. It's looking like Stockton, San Bernardino, and now Compton, CA are all filing for some type of bankruptcy protection. It wasn't that long ago when the rich Orange County area of southern CA filed for bankruptcy protection as well. When just about every CA city files for some type of bankruptcy, then the state will probably follow suit as well. Time to tighten up our belts, and pray for a miracle.
How can this be? Isn't this the 4th California city to declare bankruptcy in the last few months? I thought CA was a progressive example for the country to emulate...not an example of fiscal incompetance to be avoided at all costs.
CA has it all going on don't they!
Their LIberal ways are finally catching up with them on a large scale. Supporting all those illegals is expensive!
Yep and they want to run our Whole Country just like what they are doing in California Yipee........
Which state has the largest populaton of illegal immigrants who enjoy free state/government benefits?
For the longest time California was known as the trend setting state for taking the lead on many things that other states followed. I'm sure this will catch on in other states.
Vallejo started the whole thing..California is screwing itself, and people are finally seeing the writing is on the wall as many are leaving the state. Beautiful state, bad greedy leadership for too long http://www.nytimes.com/2012/06/28/us...tcy-court.html
There are so many ignorant people in this thread who don't have the slightest idea what they're talking about but who still want to pontificate about what they imagine the causes of a problem which won't happen for months if it even happens at all. Here's an idea, if you don't know what you're talking about why not shut your mouth?
Compton is reeling from accusations of fraud after independent auditors refused to sign off on the city's budget and financing plans. This meet they are blocked from selling bonds until the issue is resolved and the city is saying it only has cash to last until September so unless they get their bond rating restored by then the city will run out of cash. That does give them several months to resolve the issues brought up by the audit.
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