America Isn’t Ready for Blue City Defaults
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The financial outlook for many of America’s blue cities and states has become increasingly grim. According to the US Bureau of Economic Analysis, the cumulative debt of local governments has grown by $1.3 trillion, or almost 50 percent, over the past decade; states and cities run by Democrats over most of that period account for two thirds of the surge.Even more troubling is the sharp split between the way that Republican-leaning and Democratic-leaning jurisdictions are attempting to mana
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