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The Municipal Financial Crisis

Cato Podcast

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The Limitations of Top Down Legislation

Newly elected mayors and city council members need to ensure their plans are not immediately undone the moment they leave office. "Legislating sanity, legislating fiscal prudence is not a do it and you're done and you can go home kind of business," says former New York City Mayor Michael Bloomberg. A lot of states are putting in mostly unfunded mandates, one size fits all type solutions that are being forced to the local level, he adds.

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