Includes “Typically we view declaring bankruptcy as a personal or business endeavor, however, government entities such as utility boards, school districts, and even entire UC cities can declare bankruptcy if they become insolvent. … Having a good educational program is essential to the economy and the well-being of citizens but they come with a large price tag. Budget crises are typically followed by budget cuts, but some school systems in America have found that this too, doesn’t always balance the budget.”
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