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Los Angeles On Track To Run Out Of Money In 4 Weeks

Los Angeles Budget Crisis

First Posted: 06/06/10 06:12 AM ET Updated: 05/25/11 05:05 PM ET

latimes.com:

The city's top financial official issued a grim assessment of the escalating budget crisis Monday, warning that Los Angeles could be unable to pay its bills in just over four weeks.

City Controller Wendy Greuel declared an "urgent financial crisis" and said the only way to continue paying bills in the short term was to begin to drain the city's already limited emergency reserve.

Read the whole story: latimes.com

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Filed by Billy Silverman  |