The economy may be working its way back, but governments at all levels are struggling to close billions of dollars in budget shortfalls.
That's often caused clashes with public workers over the cost of their pensions. CBS News correspondent Tony Guida reports that there is one Rhode Island town that just made a painful and controversial choice.
The smallest city in the nation's smallest state -- Central Falls, Rhode Island -- is bankrupt. The main reason is it can't afford the pensions for its retired city workers. How the city is digging out of its financial hole may have consequences for city pensions in other cash-strapped towns across the country.
http://www.cbsnews.com/8301-18563_162-57395072/as-cities-go-broke-pensions-are-slashed/
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