07 Aug '13, 12pm

Monty has penned a must-read over @AceofSpadesHQ, "City of Broken Promises." Please read and share.

It goes bankrupt. Bankruptcy is an acknowledgement that many promises will be, must be, broken if the city is to survive. A city’s only purpose is to serve the people who live in it, so it would seem to be logical that the taxpayers would be foremost in the minds of the officials working to solve the problem. But alas, it is not so. Municipalities now apparently exist to service public employees and bond-holders more than their own citizens, which means that city services -- police, fire, garbage pickup, public lighting, sewer, street repair, and so on -- must go begging to satisfy the creditors. Yet without these public services, what purpose does a town or city really serve except to siphon money out of the pockets of people who live there? Cities caught in this death spiral -- Detroit is the prototypical example -- hemorrhage citizens as they flee to less dysfunctional ...

Full article: http://ace.mu.nu/archives/342289.php

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