Miami Declares Emergency, Mulls Union Cuts

Mike Shedlock

The "good news" keeps right on rolling. As such, I keep wondering which major US city will be the first to declare bankruptcy. Please consider candidate Miami.

Miami Declares Financial State of Emergency

Bloomberg reports Miami Declares ‘Financial Urgency’ as It Moves to Cut Worker Pay, Benefits http://www.bloomberg.com/news/2011-08-1 ... efits.html

Miami, facing a $61 million fiscal 2012 deficit, declared a state of “financial urgencyâ€