STRONG TOWNS: THE REAL REASON YOUR CITY HAS NO MONEY

STRONG TOWNS: THE REAL REASON YOUR CITY HAS NO MONEY

Lafayette,  Louisiana has a predicament. Infrastructure was supposed to serve them. Now they serve it. All of the programs and incentives put in place by the federal and state governments to induce higher levels of growth by building more infrastructure has made the city of Lafayette functionally insolvent. Lafayette has collectively made more promises than it can keep and it's not even close. If they operated on accrual accounting -- where you account for your long term liabilities -- instead of a cash basis -- where you don't -- they would have been bankrupt decades ago. This is a pattern we see in every city we've examined. It is a byproduct of the American pattern of development we adopted everywhere after World War II. by Charles Marohn

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