[gunsequalfreedom]

The story is overblown. It is only because the city council did not give enough notice of a meeting in which it planned to approve a bond.

Story should read, Because council did not provide the public with adequate notice of its meeting, it may find itself in a financial pinch due. By failing to post notice of the meeting in a timely manner, the city council is not able to take action on a bond needed to fund the city.

It actually is already broke. It just had not run out of the ability to borrow to hide the fact.

[cripplecreek]

It actually is already broke. It just had not run out of the ability to borrow to hide the fact.

True, the fact is that many American cities are still borrowing and following Detroit down the same path.

[Gaffer]

Personally, I’m gonna pop up some popcorn...Nothing I’d like to see more than a force of corrupt cops tryting to quell a city full of leeches.

[dfwgator]

They need to bring in OCP.

[publius911]

...the city council is not able to take action on a bond needed to fund the city.
It actually is already broke. It just had not run out of the ability to borrow to hide the fact.

Who the hell would lend a bankrupt city MORE money? The interest rate must be astronomical, and Detroit assumes that the National (working) taxpayer will pick up the future tab.

When you are in a financial hole so deep that you can't be seen, borrowing more money becomes a crime. For most of us mortals, anyway.