7 U.S. Cities on the Verge of Bankruptcy
Wealth Wire
Posted by Mike Tirone
Friday, October 14th, 2011
Translation by Autumnson Blog
The harsh economic climate is changing. The time has come when citizens and companies aren’t the only ones being forced to file for bankruptcy…
Major cities are among the ranks of those in dire straits.
On Wednesday, Pennsylvania's capital city Harrisburg opted for the rarely used Chapter 9 of the U.S. bankruptcy code.
週三賓夕法尼亞州的首府哈里斯堡選擇很少被用到的美國破產法第9章。
The current struggle is between the state and city of Harrisburg over control of the city, whose population of around 50,000 people had been having difficulties paying for critical services for over the past year. On top of that, the city has incurred as much as $458 million in debt and several lawsuits with creditors.
當前的鬥爭是關係到州和哈里斯堡市對城市的控制，它的人口約 50,000人在過去一年已一直有困難支付關鍵的服務。最重要的是，該市已招致高達4億5千800萬的債務和幾項與債權人的訴訟。
“The city does not have the ability to pay those money judgments or any significant portion thereof and still provide health and safety services to its citizens and other essential government services,” said Mark Schwartz, an attorney hired by the City Council.
“該城市沒有能力支付那些錢財判決或由此的任何重要部分，卻仍然提供健康和安全服務給它的公民和其它必然的政府服務，”市議會聘請的一位律師施瓦茨說。
According to Schwartz, bankruptcy gives the city “bargaining power” with its creditors, municipal workers, retirees, and the state.
據施瓦茨，破產給予該市“議價能力"，與其債權人、市政工人、退休人員、以及國家談判。Municipal bankruptcies are rare. But if Harrisburg is successful in winning concessions with bondholders, pensioners and other stakeholders, it could lead other financially troubled cities to seek bankruptcy."
市政破產是罕見的，但如果哈里斯堡成功贏得讓步，從債券持有人、退休人員和其他利益相關持有者，它可能導致其它財政陷入困境的城市尋求破產。”
As of 1937, only 629 municipal bankruptcies under Chapter 9 of the U.S. Bankruptcy Code have been filed. Most recent of these is Orange County, California, which filed for bankruptcy back in 1994, and Vallejo, California, following in 2008.
Is your city or town next to fall onto the sword and file for Chapter 9?
你的市或鎮是否成為下一個落到第9章的劍和文件？
The 7 U.S. Cities on the Verge of Bankruptcy：
七個瀕臨破產邊緣的美國城市：
Washington, D.C. (首都華盛頓)
Deficit through 2012 (到2012年的赤字) : $322 million
Budget in Fiscal year 2012 (2012財年預算案): $9.6 billion
Annual Budget Shortfall (年度預算的欠缺): 3.4%
Deficit per Capita (人均赤字): $537
2011 Unemployment Rate (2011年失業率)： 11.1%
Detroit, Michigan (密歇根州底特律)
Deficit through 2012 (到2012年的赤字) : $155 million
Budget in Fiscal year 2012 (2012財年預算案): $3.11 billion
Annual Budget Shortfall (年度預算的欠缺): 5.0%
Deficit per Capita (人均赤字): $217
2011 Unemployment Rate (2011年失業率)： 12.9%
Honolulu, Hawaii (夏威夷檀香山)
Deficit through 2012 (到2012年的赤字) : $100 million
Budget in Fiscal year 2012 (2012財年預算案): $1.93 billion
Annual Budget Shortfall (年度預算的欠缺): 5.1%
Deficit per Capita (人均赤字): $110
2011 Unemployment Rate (2011年失業率)： 5.2%
New York City, New York (紐約紐約市)
Deficit through 2012 (到2012年的赤字) : $4.58 billion
Budget in Fiscal year 2012 (2012財年預算案): $65.7 billion
Annual Budget Shortfall (年度預算的欠缺): 7.0%
Deficit per Capita (人均赤字): $565
2011 Unemployment Rate (2011年失業率)： 8.7%
Chicago, Illinois (伊利諾伊州芝加哥)
Deficit through 2012 (到2012年的赤字) : $636 million
Budget in Fiscal year 2012 (2012財年預算案): $8.2 billion
Annual Budget Shortfall (年度預算的欠缺): 7.7%
Deficit per Capita (人均赤字): $2,353
2011 Unemployment Rate (2011年失業率)： 10.3%
Cincinnati, Ohio (俄亥俄州辛辛那提)
Deficit through 2012 (到2012年的赤字) : $60 million
Budget in Fiscal year 2012 (2012財年預算案): $1.2 billion
Annual Budget Shortfall (年度預算的欠缺): 20%
Deficit per Capita (人均赤字): $181
2011 Unemployment Rate (2011年失業率)： 8.7%
Camden, New Jersey (新澤西坎登)
Deficit through 2012 (到2012年的赤字) : $28 million
Budget in Fiscal year 2012 (2012財年預算案): $138 million
Annual Budget Shortfall (年度預算的欠缺): 20.2%
Deficit per Capita (人均赤字): $54
2011 Unemployment Rate (2011年失業率)： 11.1%
Bonus list: Practically every major city in California: San Diego, San Jose, San Francisco, Los Angeles
額外名單：事實上幾乎每一個加州的主要城市：圣迭戈、聖荷西、三藩市、洛杉磯
San Diego (圣迭戈)
Deficit through 2012 (到2012年的赤字) : $56.7 million
Budget in Fiscal year 2012 (2012財年預算案): $2.8 billion
Annual Budget Shortfall (年度預算的欠缺): 2%
Deficit per Capita (人均赤字): $19
2011 Unemployment Rate (2011年失業率)： 10.2%
San Jose (聖荷西)
Deficit through 2012 (到2012年的赤字) : $115 million
Budget in Fiscal year 2012 (2012財年預算案): $2.5 billion
Annual Budget Shortfall (年度預算的欠缺): 4.6%
Deficit per Capita (人均赤字): $128
2011 Unemployment Rate (2011年失業率)： 10%
San Francisco (三藩市)
Deficit through 2012 (到2012年的赤字) : $380 million ($480 milion for '12-'13； $642 million for '13-'14)
Budget in Fiscal year 2012 (2012財年預算案): $6.8 billion
Annual Budget Shortfall (年度預算的欠缺): 5.5%
Deficit per Capita (人均赤字): $470
2011 Unemployment Rate (2011年失業率)： 9.7%
Los Angeles (洛杉磯)
Deficit through 2012 (到2012年的赤字) : $457 million
Budget in Fiscal year 2012 (2012財年預算案): $6.9 billion
Annual Budget Shortfall (年度預算的欠缺): 6.6%
Deficit per Capita (人均赤字): $46
2011 Unemployment Rate (2011年失業率)： 13.3%
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