Bankrupt cities are victims of their own design

by Ryan Streeter on July 12, 2012. Follow Ryan on Twitter.

James Rosen included me in his lead story on Fox News last night (clip below) on the budget crisis in America’s cities. My main point in our pre-recorded interview, of which just a snippet appears in the segment, was that bankrupt cities are largely victims of their own design.

If you’ve not read it, take a look at Steven Greenhut’s City Journal article on Stockton, which makes this point better than I did. As more cities file for bankruptcy, you’ll hear plenty about how they are victims of the economic downturn. Following this line of thinking is dangerous. The flagging economy has simply revealed the dysfunction, fiscal imprudence, and in some cases outright corruption that have characterized far too many municipal and state governments.