Baltimore could go bankrupt by 2023, report shows

Baltimore could be bankrupt by 2023 unless it lowers property tax rates, invests in infrastructure and cuts city employee benefits, Mayor Stephanie Rawlings-Blake said Wednesday.

Rawlings-Blake’s dire prediction stems from a new city-commissioned report by Philadelphia-based Public Financial Management Inc. on the city’s financial health. If steps aren’t taken, the report projects a $745 million deficit over the next 10 years that could reach $1.3 billion in a worst-case scenario.

The city…