How Stockton Went Broke: A 15-year Spending Binge

Stockton

SAN FRANCISCO (Reuters) - The man in charge of the biggest U.S. city ever to file for bankruptcy is clear about the root of the crisis.

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  • How Stockton went broke: A 15-year spending binge
    Generous pension deals were offered in the early 2000s. City officials, looking to transform their sleepy downtown, approved spending on large projects to raise Stockton's profile and turn it into a bedroom community for San Francisco and the Bay Area.
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