IPFS News Link • Economy - Economics USA
San Bernardino, California, files for bankruptcy with over $1 Billion in debts
• ReutersSan Bernardino filed for bankruptcy protection on Wednesday citing more than $1 billion of debts and making it the third California city to seek protection from creditors.
The city of about 210,000 residents 65 miles east of Los Angeles declared a fiscal crisis last month after a report said local government had tapped out its reserves and projected spending would top revenue by $45 million in the fiscal year that began on July 1.




