These cities large and small have some astounding debt. People tell me that those cities have a tax base to support it but if you’re $100 billion in debt, your tax base isn’t doing a very good job of supporting it.
Our cities are trillions of dollars in debt. There is probably a trillion dollars in municipal debt in the northeast alone.
But their Mayors, their staff, their “friends” bask in the constant shower of Money, Money and MO Money. They don’t give a whit’s damn about the city’s future, never did. Get some bodyguards, a limo and driver, a big ole fat paycheck and all you can steal under the table, put your a$$ in a nice mansion the city unknowingly bought for you, stash some cash and what the hell do you care.
America’s URBAN cities since circa the 1970s....
The last I heard, Suze Orman was saying, "buy muni bonds". Of course I quit watching her about a year ago.
Only fair sized cities issue muni bonds. How many "fair sized cities" are not run by democrats?