Tuesday, June 26, 2012

Binocular Snapshot for 06/26/2012

LastDayWatchers it was the May 15th Prophecy that told you in the post The Defining Moment and The Economic Collapse Prophecy "You will see bank after bank fail, and city after city will go bankrupt"

Stockton could become the largest U.S. city to declare bankruptcy after a Monday deadline to make a deal with its creditors passed and the city's mayor said she did not believe a settlement had been reached
"Mayor Ann Johnston told KCRA-TV on Tuesday that a formal bankruptcy filing now appears "very likely.", in the past three years, officials addressed $90 million in deficits through a series of drastic cuts. They eliminated one-fourth of the city's police officers, one-third of the fire staff and 40 percent of all other employees. They also cut wages and medical benefits.

To plug next year's anticipated $26 million budget hole, a proposed budget suspends payments for debts and legal claims; reduces payments for retiree medical benefits; further reduces some pay and benefits; and increases revenue through code enforcement and parking citations."

Go see what happen next with 100% accuracy written at LastDayWatchers