And We're Living Here In Harrisburg

The capital of the Keystone State may be the key stone that collapses the municipal bond market.

Harrisburg Mayor Linda Thompson asked Pennsylvania to determine the city to be in municipal financial distress so it would qualify for help and oversight under the state’s Act 47 program.

The city “stands on the precipice of full-blown financial crisis as a looming cash shortfall threatens its ability to pay vendors and meet payroll,” a statement from the mayor’s office said.

Things get interesting from here.  In a very, very bad way.

Folks, as bad as 2010 has been through the first nine months of the year, 2011 is shaping up to be absolutely horrific.  Imagine January has the Republicans in charge, wanting to cut the country off at the knees right when it needs help the most.

Fun, huh?