All Commentary
Wednesday, June 27, 2012

Stockton Bankruptcy Will Make History; Residents Reeling


“How Stockton found itself so mired in debt can be seen everywhere in the city’s core. There is a sparkling marina, high-rise hotel and promenade financed by credit in the mid-2000s, mere blocks from where mothers won’t let their children play in the yard because of violence.

During the economic boom, this working-class city with pockets of entrenched poverty tried to reinvent itself as a draw to Bay Area refugees and a popular site for conventions. It offered generous city employee pension plans and benefits.” (Los Angeles Times)

The State continues to fail at picking winners. The Supreme Court made sure it can keep forcing taxpayers to pay.

FEE Timely Classic

Kelo v. City of New London: Do We Need Eminent Domain for Economic Growth?” by George C. Leef