Cleaning Up Messy Municipal Finances in Chicago and Beyond


A Civic Federation-sponsored event Wednesday addressed questions that have been on the mind of many amid recent crises: Is Chicago the next Detroit, headed for municipal bankruptcy? Can – or should – the Chicago Public Schools go bankrupt?

While restructuring may have its appeals, it's an expensive, complicated process that doesn't solve the whole of a municipality's problems – and in Illinois, it's nearly impossible.

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Joining Chicago Tonight for national lessons in municipal finance and bankruptcy is Mary Murphy, the Pew Charitable Trusts manager on issues of state and local fiscal health.


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