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states as well. of course, lower supply, no brain science here. it means higher prices. higher food costs for us. so in terms of the supermarket, we re all going to see it and feel it. mandy drury, thanks so much. again, big, big gathering of the naacp. the oldest civil rights organization in the country. we will have mitt romney speaking before the naacp coming up. i m sorry, what? after this. will expire this year, sending taxes through the roof and hindering economic recovery. the consequences? millions of americans will see their taxes on dividend income spike, slowing investment in u.s. companies and jeopardizing development in energy projects that create american jobs. ask congress to stop a dividend tax hike for all of us. of single mile credit cards. battle speech right? may i? [ horse neighs ]
good evening. i m tom foreman filling in for erin burnett. outfront tonight, fiddling in washington while bankruptcy burns across the nation. san bernardino, california, is the latest american town unable to pay its bills. the math is $46 million in debt. they ve made drastic cuts in employees and services. and the city has only $150,000 in the bank. that s it. residents are coming unhinged saying, why wasn t this calamity headed off at the pass? what about two years ago when they took $10 million from the employees? what were they doing then? now the city is forced basically to file bankruptcy because they have this tremendous amount of debt over their head. in the last 14 days, two other towns near los angeles have gone into bankruptcy. other places across the country have done the same or tried to in idaho, alabama, pennsylvania, rhode island, dozens of other local and state governments have made dramatic cuts just to try to stay solvent while they wait for the econo