The smallest city in the smallest U.S. state made the filing as it grappled with an $80 million unfunded pension and retiree health benefit liability that is nearly quadruple its annual budget of $17 million.
That's right...a city a mere 1.3 square miles racked up tens of millions in retirement benefits it couldn't pay off.
Just what Scott Walker and other Republicans have been saying will happen to entire states if changes are not made.
"Yet any time you and I question the schemes of the do-gooders, we're denounced as being opposed to their humanitarian goals. It seems impossible to legitimately debate their solutions with the assumption that all of us share the desire to help the less fortunate. They tell us we're always 'against', never 'for' anything."