As we watch the alleged Federal government shutdown by politicians who crave spending more and more of YOUR money (without cutting spending), we see the same in various states and cities like Chicago, Illinois. Now Hartford CT is in on the overspending act.
(Bloomberg) – Moody’s says the city of Hartford is likely to default on its debt as early as November without additional concessions from Connecticut.
Moody’s sees Hartford’s operating deficits of $60 million to $80 million through 2036
Hartford will look to bondholders to restructure roughly $604 million in general obligation and lease debt, Moody’s says.
Moody’s sees additional grant revenue or amount equal to PILOT payments cutting view of operating deficits by over half.
This post was published at Wall Street Examiner by Anthony B Sanders, repost courtesy of Snake Hole Lounge. ‘ October 19, 2017.