MuniNet Guide articles and features
The Great Puerto Rico Debt Machine Gears Up, Again
The French have a saying: "The more things change, the more they stay the same." That seems quite applicable to Puerto Rico's current fiscal situation. We are now more than two years into a full-blown debt crisis ... And yet, so far, the formula has remained the same: "more taxes and more debt." After all the market commotion of the past two years, the fact remains that PR’s crippling debt burden has continued to increase ... while the island’s economy continues to contract. Continue
Financially Distressed Cities: Should Unfunded Pension Obligations Impair Funding of Essential Services?
The financial health of some municipalities across the nation that are in financial distress is being threatened by unfunded public employee pension obligations that are not affordable and sustainable. When the cost of meeting public pension obligations crowds out the government’s ability to deliver essential public services such as police, fire and water, priorities need to be established and creative solutions are required. Continue
Lessons Learned from Detroit’s Bankruptcy
In July of 2013, Detroit was the first city that was the largest city in the state to seek protection under Chapter 9 of the Bankruptcy Code for municipal debt adjustment ... The fact that Detroit has confirmed a Plan of Debt Adjustment is one important step in a longer process of recovery. While we hope that Detroit will make a full economic recovery, its experience has been constructive in offering a number of important lessons Continue
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