Government,
Bankruptcy
Oct. 26, 2012
Sprawl causes municipal bankruptcy, stork brings baby
Without government support and financing (think Fannie and Freddie) that made ownership of suburban homes a lucrative American birthright, the dreaded "sprawl" could not have come about.
I gained a new insight into the nature of causation after reading an op-ed piece by Bill Fulton, former mayor of Ventura, that ran in the Los Angeles Times earlier this month ("The Bankruptcy-Sprawl Connection," Oct. 1). If you haven't read it, do - it will do wonders for your understanding of municipal finances, and explain that municipal bankruptcies are caused not by municipal deficit spending, but by - are you ready? - sprawl. I didn't know that. I still don't.
Fulton explains...For only $95 a month (the price of 2 article purchases)
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