S4E4 - In a Bad State: State & Local Budget Crises (David Schleicher)
Densely Speaking
00:00
Borrowing for Infrastructure: A Local Perspective
This chapter examines the complexities of state and local borrowing for infrastructure, contrasting it with the federal government's historical role. It highlights the implications of municipal debt issuance on local governance, particularly in financing railroads, while also addressing the socioeconomic disparities that arose from differing regional debt strategies. Furthermore, it reflects on the challenges faced by state and local governments during financial crises and the decisions that led to underfunding critical infrastructure projects.
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