46 Of 50 States Could File Bankruptcy In 2009-2010

There is a high chance a majority of the States within the United States of America could file for Chapter 9 bankruptcy. There are currently 46 states with high budget deficits, Arizona being one of them.

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MSM: California controller to suspend tax refunds, welfare checks, student grants

John Chiang announces that his office will suspend $3.7 billion in payments owed to Californians starting Feb. 1, because with no budget in place the state lacks sufficient cash to pay its bills. Continue reading