The debt crisis in the United States of America has reached apocalyptic proportions. A new and horrifying report out details the reason why 63 of America’s largest cities are completely broke: debt and overspending.
According to a recent analysis of the 75 most populous cities in the United States, 63 of them can’t pay their bills and the total amount of unfunded debt among them is nearly $330 billion. Most of the debt is due to unfunded retiree benefits such as pension and health care costs. That means those depending on that money, likely won’t see a dime of it. Continue reading “Apocalyptic Debt Crisis In America: 63 Of America’s Largest 75 Cities Are COMPLETELY BROKE”