Monday, August 01, 2011

Life in "Progress' City - Central Falls RI

The key to this one is in the body of this article............

"It's too bad, because Central Falls has always been a progressive city," said Ortiz.

So what has "progressive" policies brought to this town?


Central Falls, Rhode Island, one of a handful of U.S. cities and counties facing fiscal collapse in the wake of the economic recession, filed for a rare Chapter 9 bankruptcy on Monday.

The bankruptcy filing, a risky and potentially expensive move that could freeze the city out of the U.S. municipal bond market, marks a symbolic blow as state and local governments struggle to pull themselves out of the recession.

The smallest city in the smallest U.S. state made the filing as it grappled with an $80 million unfunded pension and retiree health benefit liability that is nearly quadruple its annual budget of $17 million.

So let's just keep running social security the same way. It's worked so well for Central Falls.

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