Cities In Distress: What Chicago's Bankruptcy May Look Like
By Adam Levitin and David Schleicher (July 11, 2018, 2:10 PM EDT) -- Five years after the city of Detroit filed for Chapter 9 bankruptcy on July 18, 2013, experts look at the financial troubles of a few other U.S. cities in this special series.
David Schleicher In the five years since Detroit filed for Chapter 9 bankruptcy, people have wondered which big city will be next. A national economic expansion and low interest rates have bought municipalities some breathing room, but there is a great deal of evidence that many have not used the expansion to address their long-term structural challenges. But the national economic expansion will end at some point. Given the perceived...
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