Coming to a city near you?
The city of Vallejo is on the brink of becoming the first California city ever to declare bankruptcy, City Council members said Tuesday.
Vallejo may run out of cash as early as March, council member Stephanie Gomes said.
"We've spending more than we've been making for 20 years and it's to pay the piper."
Council members Joanne Schivley and Gomes have announced they will host a town hall meeting this Thursday to discuss the very real possibility of bankruptcy.