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News Link • Government Debt & Financing

Bureaucrat Benefits Twice Bankrupt City

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Vallejo, California is a small city of over 115,000 people located on San Pablo Bay at the north end of the San Francisco metropolitan area, with a long history of providing lavish benefits for elected officials and government employees. So lavish, in fact, that the city was forced to file for bankruptcy back on May 23, 2008 because it could no longer pay for essential services for the public and the pensions of its public employees.  ...

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