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Detailed text transcripts for TV channel - FOXNEWS - 20120712:14:05:00

Matters. martha: lightning sparking new fires in idaho, montana and colorado. no rest for the weary. bill: and we have more now on america on the verge of bankruptcy. new concerns a growing number of cities across the country on the verge of going broke after three cities in california filed for bang superintendent see in one months time. liz is here. good morning to you. san bernardino is the next one on the list. >> reporter: thats right, bill, $45 million budget deficit, this is a city that o...
America On The Verge Thats Right San Bernardino Bill Hemmer Bang Superintendent Catch Liz

Detailed text transcripts for TV channel - FOXNEWS - 20120712:14:07:00

To drop two weeks ago. do all these cities have the same problems? >> reporter: it seems that way. they say the housing collapse, the thing is theres less tax revenue. with this city, san bernardino, 65 miles east of l.a. they are taking in $120 million a year but paying out $126 million a year. that has got to change. the mayor is moving to file chapter nine. this is a problem we are probably going to see across the state of california. and california, bill, isabelle weather state. we dont want...
Housing Collapse Tax Revenue San Bernardino 126 Million 120 Million 20 Million

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