Which American cities will file bankruptcy next?

[Peter1469]

Which American cities will file bankruptcy next?

If you work for a state or local government, I pity you. If you don't, it still matters- if your local government goes bust you will be affected.

We harp on the massive, unsustainable, yet largely unnoticed, debt burdens of American cities, counties and states fairly regularly because, well, it's a frightening issue if you spend just a little time to understand the math and ultimate consequences. Here is some of our recent posts on the topic:

• America's Pension Bomb: Illinois Is Just the Start
• Stanford Says Soaring Public Pension Costs Devastating Budgets For Education And Social Services
• Pension Consultant Offers Dire Outlook For Kentucky: Freeze Pension And Slash Benefits Or Else

Luckily, for those looking to escape the trauma of being taxed into oblivion by their failing cities/counties/states, JP Morgan has provided a comprehensive guide on which municipalities haven't the slightest hope of surviving their multi-decade debt binge and lavish public pension awards.


If you live in any of the 'red' cities below, it just might be time to start looking for another home...

Read the rest at the link.