CITY ECONOMIES - Is Detroit's Bankruptcy the First in a House of Cards?

One needs to remember that this issue is a confluence of our recession (which we are NOT fully recovered from) and the very human error of expecting that the 'good times' would go on forever.  Some cities did not hedge 'their bets' when it came to their budgetary decisions in the past.

"Will Other U.S. Cities Follow in Detroit's Footsteps?" PBS Newshour 7/29/2013

Excerpt

JEFFREY BROWN (Newshour):  To what degree is Detroit a special case?  In what ways is it representative of problems in other cities?  Those and other questions have been much in the air since the bankruptcy filing.

For some answers, we turn to Kathy Wylde, president and CEO of the Partnership for New York City, a nonprofit focused on the city's economy, infrastructure, and education system, author and urban studies theorist Richard Florida, director of the Martin Prosperity Institute at the University of Toronto.  His books include "The Rise of the Creative Class" and "The Great Reset."  And Bruce Katz of the Brookings Institution, co-author of "The Metropolitan Revolution:  How Cities and Metros Are Fixing Our Broken Politics and Fragile Economy."