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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...

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End 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...

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Cities 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...

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Helluva 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...

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Illinois 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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