Detroit Free Press: Act Early and Aggressively to Keep U.S. Cities From Going Under
WASHINGTON — States’ efforts to detect and respond to financially troubled municipalities vary widely, with some — including Michigan — much more aggressive than others, said a report released today by the Pew Charitable Trusts.
The report said that while municipal bankruptcies like the one filed on Detroit’s behalf last week remain rare, states can help avoid them by closely monitoring local finances and, if it’s legally and politically possible, intervening early.
“With Detroit, I think bankruptcy is a measure of last resort,” said Kil Huh, director of State and Local Fiscal Health for the Washington-based public policy organization. “I think policy makers would have liked to have seen the emergency manager work.”
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- States' Fiscal Health