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What American cities risk going under?

Municipal Bonds Read more from
Chapter Bonds

Some very large cities run very high budget deficits, meaning they spend more than they receive in taxes. Some of those cities are San Diego, California; Norfolk, Virginia; San Jose, California; Las Vegas, Nevada; Phoenix, Arizona; Reno, Nevada; Chicago, Illinois; Baltimore, Maryland; Yonkers, New York; Honolulu, Hawaii; New York, New York; San Francisco, California; Los Angeles, California; Detroit, Michigan; and Harrisburg, Pennsylvania. Detroit recently filed for bankruptcy protection, and is litigating how much, if any, it will be required to repay bondholders who invested in its municipal bonds.

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