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IPFS News Link • Economy - Economics USA

Detroit not alone, expect more bankrupt cities: Expert

05-23-2014 • CNBC

.... Since local politicians like to avoid raising taxes and cutting services, they wind up borrowing to balance their budgets. "If they can borrow and kick the can down the road, they do so. The problem is they've been kicking the can down the road for too long," Ravitch said. ...

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