Syracuse New York Headed For Bankruptcy, 100% Certain [NotSoBreaking] - MarketTicker Forums


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User Info	Syracuse New York Headed For Bankruptcy, 100% Certain in forum [NotSoBreaking]
Avianphlu Posts: 3982 Incept: 2008-12-03 Ulster NY	http://globaleconomicanalysis.blogspot.c.... Syracuse New York Headed For Bankruptcy, 100% Certain While the financial situation in the city of Syracuse hasn’t been described as desperate yet, Mayor Stephanie Miner has asked for some legal expertise on municipal bankruptcy. The signs of the city’s financial problems have been evident for several years as city employees accept wage freezes and fire and police departments see staff reductions. The city will use an early payment from Albany to help keep the budget from dipping into dwindling reserves. Skyrocketing pension and healthcare costs continue to be a problem for the city budget. “Bankruptcy isn’t the answer. It’s not like we sort of restructure and become a different city,” said Professor of Economics and Senior Associate Dean, Maxwell School at Syracuse University Michael Wasylenko. Read more at http://globaleconomicanalysis.blogspot.c.... Last modified: 2012-08-15 11:51:51 by ulsterirish Reason: . 2012-08-15 11:50:45 Permalink