2012-07-11

Thousands of towns face budget squeeze in downturn's wake

Earlier this month, Stockton, Calif., became the largest city in U.S. history to file for bankruptcy protection from creditors. In Scranton, Pa., Mayor Chris Doherty is facing lawsuits over his unilateral move to cut the salaries of police, firefighters and other public workers to the minimum wage of $7.25 an hour.
economywatch.msnbc.msn.com/_news/2012/07/10/12665523-thousands-of-towns-face-budget-squeeze-in-downturns-wake?lite

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