Detroit Debt Redux
The Detroit Free Press has posted a very detailed series of charts explaining what happened to Detroit's financial situation over the last 6 decades. In a nutshell the city's debt took off in the mid-90s and hasn't slowed down yet. Interestingly during Coleman Young's administration total debt was lower than annual revenues, but budgets were only balanced during the Archer administration. This suggests that it would be interesting to see how much of the year change in debts was due to general operating budget deficits and how much was due to infrastructure spending and other forms of investment (worthwhile or not).