SCRANTON RUNS OUT OF MONEY, Cuts All City Salaries To Minimum Wage

[True Federalist (진정한 연방 주의자)]

What's going on there is that the mayor and the council can't agree on how to fix their broken budget.  The mayor wants to raise taxes and the council wants to borrow more money despite the fact that their finances are such that no one wants to lend them money.  The city would like to enter Chapter 9 Bankruptcy to cut costs, but the State government won't let them.

[True Federalist (진정한 연방 주의자)]

The mayor wants to raise taxes

I also noted this and found it amusing that krazen ignored it.

To be fair, the mayor probably doesn't want to raise taxes, but since the idiots in Harrisburg won't let Scranton declare bankruptcy, it's the only viable option left.

[True Federalist (진정한 연방 주의자)]

To be fair, the rest of the pay is "deferred" until the city has the money to pay it.

[True Federalist (진정한 연방 주의자)]

I hadn't realize that a chartered city requires state approval to declare bankruptcy.

Under federal law, it does!

http://www.uchastings.edu/public-law/plri/fal95tex/muniban.html

Oh, since I remember 1964, the irony is delicious.

Okay, I'll bite.  In what way is 1964 relevant to this?   Neither your link, nor a quick google provided anything relevant.  Even if you had a typo and meant 1994 as in the 1994 Bankruptcy Reform Act, I fail to see the irony as State approval was required before then, and the 1994 Act only clarified and narrowed what constituted State approval.

[True Federalist (진정한 연방 주의자)]

Ernest,

Not surprised you fail to understand.

Bill Scranton, was a 1964 nominal Republican, who we noted was morally bankrupt.

Not surprising that a city which bears his name (well, actually I believe his grandfather's name) is financially bankrupt.

If you ever mentioned him before, it wasn't in this thread.  Other than he opposed Goldwater for the nomination in 1964, I don't see why you might think he was morally bankrupt.  BTW, the city was named for his grandfather's second cousins who founded the Lackawanna Steel Company.