With $3.2 billion in debt, the county that is home to Alabama's largest city is about to go bust. How the credit crisis went South.
Please stop calling it a credit crisis. The problem is not a lack of credit, it is the sabotage of the earning ability of Americans.
Every economy rests on the ability of their working class to pay their bills. When you take away high paying jobs, which the US Government did, and force workers to take lower-paying jobs just to survive, then you have a problem, because everything that rests on revenue flow from the workers starts to suffer shortfalls.