State Finances in the US

An underreported story – the sorry state of state government finances in the US

http://www.reuters.com/article/2015/08/05/us-usa-illinois-authorities-taxes-specia-idUSKCN0QA1IN20150805

Meanwhile, Puerto Rico – a US Commonwealth territory – has defaulted on its debt -
http://www.cnbc.com/2015/08/04/heres-why-puerto-ricos-broke.html