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San Bernardino faces a $45 million deficit and can't make August payroll. Time to check on the financial status of your town or city.
-- What is your town's monthly payroll and budget? Is it running at a deficit, and if so has that increased over the years?
-- How is your town trying to save money? How are they spending taxpayer money? Have new fees been implemented recently to help your city make money?
-- Ask local money managers what filing for bankruptcy means and what happens when a city does it, as opposed to an individual.
