San Bernardino is the third California city to declare bankruptcy. Since progressives tell us hiking taxes on the rich will help solve our fiscal problems, I think they should start in San Bernardino, Stockton, and Mammoth Lakes. There’s a lot of work to be done.
More municipal bankruptcies are likely in California and throughout the nation, as cities continue to battle rising costs and a weak economy, said Eric Hoffman, an analyst at Moody’s Investors Service.
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