Harrisburg, Pennsylvania to Skip Two Debt Payments

News Flash:

The city of Harrisburg will skip $5.3 million in debt payments this week. Pennsylvania’s capital of about 50,000 people owe more than $346 million dollars from the expensive retrofit and repair of the city’s incinerator. That is roughly $7,300 per person.

Make no mistake, Harrisburg is not a fluke, other cities around the country are almost in the same fiscal shape. So far in 2012, there have been 21 defaults on muni debt totaling $978 million. Yet, politicians say we are in an economic recovery? Only if you are a Central Banker!

More at http://www.reuters.com

The opinionated content contained in the Hyper Report text and videos are provided for informational and entertainment purposes only. Please use the information found within this site as a starting point for conducting your own research and before making any investing decisions. All stories are sourced and the information is assumed to be truthful and reliable; however, I cannot and do not warrant or guarantee the accuracy of this information.

2 thoughts on “Harrisburg, Pennsylvania to Skip Two Debt Payments

Please leave a reply...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s