Municipal Bankruptcy Crisis in U.S. to Have Dire National Consequences! Here’s Why – and How

"The plight of municipalities in the U.S., and their struggles under the weight of enormous pension budget deficits, are reaching the critical phase [with] many municipalities [now]contemplating bankruptcy. [That, in turn, is causing]… municipalities [to eliminate jobs (150,000 - 175,000 in 2012) providing significant headwinds to jobs growth nationally [which, in turn, will adversely affect] economic growth…[causing even] more municipalities to declare bankruptcy and [their] states, in turn, run to the Federal government for help..."

at http://www.munknee.com/2012/04/municipal-bankruptcy-crisis-in-u-s-to-have-dire-national-consequences-heres-why-and-how/

Meredith Whitney: 'Tidal Wave' of Muni-Bond Defaults Still Coming

"A "tidal wave" of defaults in the municipal bond market is still building and will eventually hit the United States, says Wall Street analyst Meredith Whitney.

Many U.S. cities, towns and municipalities are insolvent but are treading along similar to how Greece did for years before officially defaulting.

In late 2010, Whitney told 60 Minutes that municipal defaults could run up into the hundreds of billions of dollars although that hasn't happened. Maybe not officially, but insolvency is a deepening problem, and defaults are still on the way..."

at http://www.moneynews.com/Headline/Whitney-muni-Bond-Defaults/2012/03/15/id/432699