Chicago suburb broke and facing bankruptcy

The Chicago suburb of Dolton is facing a financial crisis. The village’s Board went over budget by almost $4 million each year for the past ten years. This deficit has left the village broke and facing bankruptcy. The current Board is borrowing money from other accounts to pay its current bills and employee salaries. Layoffs are expected in various city departments as the Board tries to decide the best course of action for the village.

For the complete story read, “Officials say Chicago suburb near bankruptcy.”

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