There are many reasons why so many of America's cities are dying, and why so many states are desperately seeking paths to bailout and bankruptcy protections. Thanks to public sector unions, the credit ratings of many US cities and states are approaching junk bond status, and soon they will reach the limits to borrowing unless the sugar daddy of American unions can wrangle a massive and unaffordable bailout for the states and cities from an increasingly hostile US Congress.
Here is a short list of just a few cities that are in trouble:
Their populations are fleeing, their tax base is shrinking, businesses are bailing out, and unions are doubling down on demands from their hand-picked political poodles._Newsweek
- Grand Rapids, Michigan
- Flint, Michigan
- South Bend, Indiana
- Detroit, Michigan
- Pittsburgh, Pennsylvania
- Cleveland, Ohio
- Rochester, New York
- Hialeah, Florida
- Vallejo, California
- New Orleans, Louisiana
Something has to give.
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