BANKRUPT!: HARRISBURG PENNSYLVANIA MISSING PAYMENTS 9-3-2010

"REAL MONEY" T-SHIRTS @ http://executees.net/mens.html

The capital city Pennsylvania is broke and will be skipping this month's multi-million dollar bond payment.

On Sept. 15, Harrisburg, Pa., was scheduled to make a $3.29 million payment on the bonds it issued to build a trash plant. But, the cash-strapped city doesn't have the dough.

"The city's budget is in deficit," said Chuck Ardo, spokesman for Harrisburg Mayor Linda Thompson. "We're looking for ways to trim the budget just to keep services going."

"Now the chickens have come home to roost," the mayor said in a statement released Wednesday.

In May, Moody's knocked the rating on its general-obligation bonds three notches to B2 -- five steps below investment grade. To put that into perspective: Moody's rating on Greece's government debt sits at A3 -- still investment grade.

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[dave777blaster]

what a dump

[xChuckNorrisKickx]

"Mayor" linda Thompson is a product of Howard Univeristy where she received an idiot's degree in communications. She is a shinning example of the sort of uneducated clown that Howard routinely vomits upon the world. She has no education, experience, or other redeeming qualities that anyone would identify as "leadership". It is a testament to the stupidity of black voters that they would vote for this complete fool.

[jostd48]

Sheila Dixon is Shemp.

[casperdarapper]

So, thompson's proposal was, A. I get so many letters.. B. I blame it on city council ? Gov Rendell says, C. "they have got to sell assests, that's the only way.."

Harrisburg fails

[WillyHeinExperience]

Glad I don't live there.

Linda Thompson, Ed Rendell and Barack Hussein Obama are the new Three Stooges.

Steven Reed was a democrat but ran that town for years with no problems.

Vote these people out and lets live in the U.S.A. again.

[Ebdan88]

Oh My GOD....Corruptiong everywhere!!!?

You have to wake up, or you have allready have lost....!!

[jhunted7667]

@tyronebiggums3 , You know what I think , the US will default on alot of debt,which is previous credit before it is spent, credit which became debt will eventually deflate the dollar and raise it's value but first they will stimulus us to death , or prehaps everything will just collapse at once because we will be unable to meet , our unfunded libilities because the FED will be unable to buy back our own debt ,the Chinese are rubbing their hands for that fire sale ,

[tyronebiggums3]

@jhunted7667

With this monetary "policy", we are in unchartered territory. Even Jim Rickards says:

China’s GDP is about 27% of the combined China+U.S. GDP. ... In order to equilibrate gold in the same ratio as GDP, China would need to receive 1,426 metric tonnes from the U.S. ... China holds about $2 Trillion of U.S. government securities... Simply dividing the quantity of gold to be transferred by the face value of the Treasuries yields a gold price of $39,844 per ounce.

Who knows?

[jhunted7667]

@YouSayYouWantA total national , state and municiple debt including unfunded pensions that were stolen by the big banks is in excess 150 Trillion, silver and Gold is the only real money watch for $5000.00 an ounce Gold and $500.00 and ounce silver soon

[jhunted7667]

what will have to happen after bankruptcy is that all city employee's will loose about 80% of their pensions if not the whole thing in order for present day services to continue