Posts Tagged ‘bankrupt’

This article was originally published in the August 2008 edition of the Trenton Downtowner – D. Dodson

Trentonians pay for only 14% of the cost of running the city. If our external funders get tired of it, we’re in big trouble.

It isn’t clear how a city goes bankrupt. Technically bankruptcy occurs when an entity can’t pay its debt obligations. But a city can raise taxes and cut city services to the bone well before bankruptcy. In this case, the city simply ceases to be livable (e.g. Camden) Read the rest of this entry »