Another California city, this time to San Bernardino, went bankrupt. This is a special report said municipality.
"The City of San Bernardino, like other cities, has affected a severe economic downturn. So he took action to reduce costs. However, the costs continue to outpace revenue — said in a statement. — The city is faced with insufficient funds to meet its contractual and debt obligations in July 2012. "
Alas, the city has exhausted its reserves and projected expenditures exceed revenues by $ 45 million in the current fiscal year that began July 1. In the near future the administration of San Bernardino will have to decide how to restructure its finances. The government's decision will affect about 210,000 residents. Most of them for several months waiting for their salaries.
Previously declared bankruptcy two California cities of Stockton and Mammoth Lakes. As San Bernardino, these cities have gone bankrupt because of problems with the sale of real estate and high unemployment.