Small Town, Bankrupt Town
If you live in a small town and think that your local government is immune from the threat of bankruptcy, you may want to rethink that assumption. Municipal debt is a pervasive problem, not just in...
View ArticleEnd of the Road
What Walter Russell Mead calls the Blue Social Model has been breaking down over the last three decades. The passage of the Affordable Care Act (aka “ObamaCare”) is hastening this decline, which will...
View ArticleCities Going Broke
About a year ago Fox News aired a special called Cities Going Broke. It describes the municipal debt crisis in places like Stockton, CA and Jefferson County (AL), both in terms of the fiscal and...
View ArticleHelluva Handbasket
Its been said that while California is going to Hell in a handbasket, its a helluva handbasket. Another California city that is a financial basket case largely due to municipal debt is San Jose, the...
View ArticleIllinois on the Edge
The State of Illinois just had it’s bond rating downgraded (again) and is looking at a very bleak financial future. Essentially, the state will have to pay a premium to get investors to buy their debt...
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