Bankrupt USA : The Bullpen
David Frum

David Frum: Government spending is better than no spending

Slashing government expenditures is great when the economy is growing normally. But when it's not — watch out

Bankrupt USA : By the numbers
Downtown Harlingen, Texas: Good luck trying to find a decent high-end restaurant in America's "cheapest" city.

The cheapest place to live in America: By the numbers

You can buy a loaf of bread for less than $1 in Harlingen, Texas. But the struggling city also has one of the nation's highest poverty rates

Bankrupt USA : Instant Guide
Some 9.3 million cars are rocking personalized license plates, including this classic Ohio plate.

The solution to states' budget woes: Vanity license plates?

A Texas driver was willing to pay $3,000 for "AMERICA" plates, suggesting a potentially lucrative new revenue source for cash-strapped states

Bankrupt USA : Opinion Brief
President Obama defended the auto bailout last Friday while speaking at an Ohio Chrysler plant, but some of his claims are being called into question.

President Obama's auto bailout claims: 'Phony accounting'?

The Washington Post fact-checks the president's recent speech about Chrysler's bailout repayments, and takes issue with... almost all of it

Bankrupt USA : By the numbers
Will the country's smallest Post Office survive the U.S. Postal Service's major budget cuts? The indebted government agency said it will close 2,000 locations.

The Post Office's 'dire financial straits': By the numbers

Beset by dwindling business and huge losses, the U.S. Postal Service has warned that it could become insolvent unless Congress extends a helping hand

Bankrupt USA : Opinion Brief
A vacant building sits on an empty street corner in Detroit's Greektown: One-fourth of the Motor City's residents left town in the last 10 years.

Could Detroit disappear?

The population of the Motor City declined by an astonishing 25 percent in the last decade. Could it vanish altogether?

Bankrupt USA : Opinion Brief
Celine Dion is given the royal treatment in February when she returned to Caesar's Palace to prepare for a new three-year run of Vegas concerts.

Will Celine Dion save Vegas?

Is the return of the crowd-pleasing Canadian chanteuse the best stimulus package the Sin City's flailing economy can hope for?

Bankrupt USA : Opinion Brief
Chrysler's pricey Super Bowl commercial clocks in at 2:03 -- making it the longest in the championship game's history.

Chrysler's 'embarrassing' decision to spend $9 million on a Super Bowl ad

Many critics were inspired by the car company's two-minute defense of Detroit. Others argue that the price is inappropriately high for a company in debt

Bankrupt USA : In-depth briefing
With California fending off vendors and Arizona selling its Senate buildings, it's desperate times for America's states.

The dire state of the states

From California to New York, states are facing monstrous deficits. The forecast calls for pain

Bankrupt USA : Opinion Brief
Federal Reserve Chairman Ben Bernanke may face Congressional hearings this month on the possibility of state-declared bankruptcy.

Should U.S. states be able to declare bankruptcy?

Lawmakers can't agree on whether giving struggling states access to bankruptcy courts will help, or make matters worse 

Bankrupt USA : Opinion Brief
"Our fiscal house was burning," said Gov. Pat Quinn, who raised Illinois' income tax to help close the state's budget deficit.

Can a 'monster' tax hike save Illinois?

Illinois governor Pat Quinn, a Democrat, has approved a record income tax increase of 66 percent for his constituents. Can it help the state recover from the recession, or will it make the economy worse?

Bankrupt USA : Forecast
The former mayor of Los Angeles, America's second largest city, predicts that it may have to declare bankruptcy by 2014.

Will your city go bankrupt in 2011?

JPMorgan Chase CEO Jamie Dimon says a growing number of America's municipalities may go bankrupt this year. What city will be next to fail?

Bankrupt USA : Opinion Brief
"It's better to take our medicine now," Jerry Brown told reporters in regards to borrowing money to help the state's $25 billion deficit.

Can Jerry Brown's 'painful' budget save California?

The Golden State's governor has called for dramatic spending cuts and tax extensions to help reduce a $25 billion deficit. Will his plan work?

Bankrupt USA : Opinion Brief
Texas has been known as a pro-business, lean-spending, no-union state, so why is it so hard up for cash?

Debt crisis: Is Texas 'America's Ireland'?

Everybody knows about California's fiscal woes, but why isn't anybody talking about the huge crisis looming in the Lone Star State?

Bankrupt USA : By the numbers
Guests at the new Cosmopolitan mega-resort can sip cocktails in a bar incorporating a three-story chandelier.

Las Vegas' recession-era building boom: By the numbers

Sin City has been hit hard by the economic downturn, but new mega-resorts keep opening. Can they possibly turn a profit?

Bankrupt USA : The List
Greece is up in arms over a fallen economy and bailout package. Who's next?

Tailspin economies: 21 contenders to be 'the next Greece'

The media has found a concise new way to foreshadow financial Armegaddon: Just ask whether a given place is "the next Greece"

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