If you live in a screwed up state like Illinois, you’re already aware of the debt problems at the state governmental level. Chances are you’re also aware of the federal government’s fiscal mess. Most people are not aware of the fact that many of their local governing bodies are no better. Here are three related articles by Steven Malanga at the Manhattan Institute and City Journal:
Hooked on Debt
Are local governments, borrowing to build for the future, getting in over their head?