Let’s Talk Money: 13 American Cities Going Broke

These are the thirteen American cities going broke…

1. Stockton, Calif.
Credit Rating: Caa3
2011 general fund revenues: $180.3 million
2011 general fund debt: $248.5 million
Median income: $47,946

2. Jefferson County, Ala.
Credit Rating: Caa3
2011 general fund revenues: $311.1 million
2011 general fund debt: $1,141.3 million
Median income: $45,244

3. Pontiac, Mich.
Credit Rating: Caa1
2011 general fund revenues: $36.2 million
2011 general fund debt: $86.7 million
Median income: $30,753

4. Detroit, Mich.
Credit Rating: B3
2011 general fund revenues: $1,229.2 million
2011 general fund debt: $2,508.3 million
Median income: $28,357

5. Central Falls, R.I.
Credit Rating: B2
2011 general fund revenues: $17.9 million
2011 general fund debt: $21.0 million
Median income: $34,389

6. Woonsocket, R.I.
Credit Rating: B2
2011 general fund revenues: $80.6 million
2011 general fund debt: $203.2 million
Median income: $38,625

7. Riverdale, Ill.
Credit Rating: B2
2011 general fund revenues: $12.9 million
2011 general fund debt: $7.0 million
Median income: $42,690

8. Salem, N.J.
Credit Rating: Ba3
2011 general fund revenues: $8.0 million
2011 general fund debt: $36.0 million
Median income: $25,682

9. Harrison, N.J.
Credit Rating: Ba2
2011 general fund revenues: $36.8 million
2011 general fund debt: $113.8 million
Median income: $51,193

10. Menasha, Wis.
Credit Rating: Ba2
2011 general fund revenues: $16.2 million
2011 general fund debt: $43.4 million
Median income: $45,897

11. Strafford County, N.H.
Credit Rating: Ba2
2011 general fund revenues: $52.8 million
2011 general fund debt: $19.9 million
Median income: $57,809

12. Le Center, Minn.
Credit Rating: Ba2
2011 general fund revenues: $1.1 million
2011 general fund debt: $8.3 million
Median income: $41,481

13. Wenatchee, Wash.
Credit Rating: Ba2
2011 general fund revenues: $22.4 million
2011 general fund debt: $13.2 million
Median income: $44,156

Source: http://247wallst.com/2012/10/25/thirteen-american-cities-going-broke/

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