The Nation: Other Cities: Not on the Skids - Yet

With few exceptions, major cities across the U.S. are in financial trouble, though their problems are far less menacing than New York's. One reason is that most other cities are forbidden to issue short-term bonds and notes for operating expenses; those that may do so generally must pay off the debts within the same fiscal year. In inflationary times, these cities have had to raise taxes or reduce payrolls and services to live within their incomes. Following are reports on the 12 biggest U.S. cities, except for New York and Washington, D.C., the eleventh largest, which has been excluded because of...

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