San Bernardino today became the third California city since June to file for bankruptcy, citing a $46 million budget shortfall and $1 billion in debt. Under Chapter 9 bankruptcy, Mayor Patrick J. Morris told Bloomberg News that court cases and other actions against the city...

Read more http://feeds.abcnews.com/click.phdo?i=336e0b6eb8ac4857cc4540bab6e96919