Stockton, California filed bankruptcy after talks with bondholders and labor unions failed, making the agricultural center the biggest U.S. city to seek court protection from creditors.
The city of 292,000 listed assets of more than $1 billion and debt of $500 million to $1 billion in court filings yesterday in U.S. Bankruptcy Court in Sacramento, California. The two biggest creditors named in the filing reflect the groups most likely to face cuts imposed as part of the bankruptcy: bondholders and city employees.
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If more police & firefighters spur economic growth, why isn't Stockton booming? If the Democrats economic model is so great, why does this keep happening?
Oh, and it is also worth noting that Stockton has one murder per 8,839 residents. Higher per capita than Chicago (another failed blue city).







