Before Stockton: five other big financial crises for US municipalities

Here's a look at some of the most notable financial collapses and near-collapses for US municipalities over the years.

5. Harrisburg, Pa.

Officials in Pennsylvania’s capital had long hoped that an electricity-generating trash incinerator built in 1969 would yield a reliable revenue stream. But years of upgrades and repairs had put the city on the hook for more than $300 million in debt – more than three times the overall budget. Faced with strong opposition to tax hikes, the city council sought Chapter 9 protection in October 2011, but Gov. Tom Corbett (R) blocked the filing under state law and put a receiver in place to renegotiate the debts with creditors.

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Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

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