[SeekAndFind]

Read the above article as opposed to this:

http://finance.townhall.com/columnists/mikeshedlock/2013/04/18/5th-largest-city-in-us-is-effectively-bankrupt-n1571060/page/full

5th Largest City in US is Effectively Bankrupt

You know a city is in deep trouble when its mayor invites Wall Street but not the press and not private citizens to a closed meeting to discuss the future, including a sell-off of city assets.

Philadelphia Mayor Michael Nutter, whose municipality has the lowest credit rating of the five most-populous U.S. cities, did just that.

My translation: Philadelphia is bankrupt. However, that easily discernible fact will of course be denied until it officially happens.

CLICK ABOVE LINK FOR THE REST...

[GeronL]

wishful thinking?

[blackdog]

The unmentioned tidbit here is that Philadelphia annexed the entire Northeast section of the city to fatten it's checkbook. The Northeast section was and remains largely white and jewish.

If the Northeast section was never taken over, Philly would have been Detroit fifty years ago.

Still just a matter of time.

[Buckeye McFrog]

translation: Unlike former Detroit Mayors who went to prison, Fast Eddie Rendell was able to insert himself at the highest levels of the Democrat Party to ensure we remained tapped-into those sources of money.

[shove_it]

• The bond ratings agencies think we're managing our finances adequately

And those rating agencies have such a terrific track record too.

[bigbob]

Bandstand vs Motown...I’d call it a push

[SeekAndFind]

RE: Meanwhile Philadelphia counts four major cities in that proximity — Newark, Jersey City, New York, and Baltimore

And these cities do not have pension and budget problems? I’m not sure that depending on cities with their own hilly-like problems is something to comfort oneself about...

[reg45]

Not only that, Philly has cheese steak, what does Debtroit have?

[Count of Monte Fisto]

The only other thing Philadelphia has going for it is that the business and tourist areas of Center City are relatively safe.

[blueunicorn6]

5. They aren’t spelled the same way. I was our fifth grade spelling bee champ.

[x]

I guess not. Philadelphia's Detroit is spelled "C-A-M-D-E-N" and is in another state. Philly does manage to have a more balanced economy, a livelier downtown, and some big-time colleges. Detroit was lacking all those things (sorry, Wayne State).

But even if Mathis is right, he's wrong. Getting into a flame war with an anonymous commenter -- not being able to avoid settling petty personal scores -- is a sign that a media person has no taste and no class.

[outpostinmass2]

These writers are delusional. Almost every city in America has a government pension time bomb ticking down. Yes, Detroit has suffered abandonment by manufacturers but so has every city. It is the governments that refused to change and adapt. Not only that, those governments were elected by the government unions who campaigned, voted and financed their elections. Boston suffered race riots, had burned out abandoned sections of the city and huge manufacturing losses as well. I grew up in Boston and trust me, Boston of the 70’s is long gone. The government did not rebuild Boston, the people did. Boston's government pension system is in about the same shape as Detroit's. We will even add a casino just like Detroit did. No, we don't have abandoned factories rusting out like we use to but our city government looks the same as theirs. Those unions voted for those elected officials, they created their own mess.

[P.O.E.]

Yet.