What is the source of the debt, is it bonds, do they just run a deficit, something else?
paying gov't workers (as well as any outstanding debt from previously), services and such.
from what i heard, the local gov't is only paid some 40% of their required budget from the central gov't, and they have to make up the short-fall themselves.
What is the source of the debt, is it bonds, do they just run a deficit, something else?