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发表于 2009-7-19 05:38 AM
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2nd UPDATE: Philadelphia Stops Paying Vendors In Cash Crisis
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PHILADELPHIA (Dow Jones)--Philadelphia's city government has stopped paying its vendors and suppliers, citing a cash crisis.
Mayor Michael Nutter on Friday blamed the drastic move on the failure of the Pennsylvania legislature to act on his request for authorization to raise the city sales tax and change the formula for the city's contribution to its employee pension plan. Nutter says these items are necessary to help close a projected city budget deficit of $1.4 billion over the next five years.
The sixth-largest U.S. city by population will delay spending on anything other than payroll, debt service and emergencies, until passage ... |
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