New Report Shows Which U.S. Cities are about to Go BANKRUPT – Is YOURS?



A new report from Zerohedge exposes the fact that while many U.S. cities are in dire straights, the MOST troubled city by far is Rahm Emanuel’s Chicago.
Maybe if Emanuel spent more time on fixing the Chicago economy instead of spending all his energy fighting for illegal aliens and refugees, his constituents would be better off.
From Zerohedge
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…
To add a little context to the map above, JP Morgan ranked every major city in the United States based on what percentage of their annual budgets are required just to fund interest payments on debt, pension contributions and other post retirement benefits.
The results are staggering.  To our great ‘shock’, Chicago residents win the award of “most screwed” with over 60% of their tax dollars going to fund debt and pension payments.  Meanwhile, there are a dozen municipalities where over 50% of their annual budgets are used just to fund the maintenance cost of past expenditures.
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