• HOME :
  • NEWS :
  • CHUCK REED WARNED OF CITY SERVICES ‘INSOLVENCY’ AFTER THE GREAT RECESSION. HE THINKS THE CORONA-CRISIS MAY BE WORSE

Chuck Reed warned of city services ‘insolvency’ after the Great Recession. He thinks the corona-crisis may be worse

MARCH 1, 2021 | by Andrea Riquier | MARKETWATCH

Interview of Chuck Reed by Andrea Riquier, transcript includes “… The easiest thing to do when you go into a recession is cut back on maintenance, street repair, park maintenance, and I don’t think most cities have recovered from what they did after the Great Recession in terms of letting infrastructure go. You don’t have as much room to cut because it’s already been cut. Letting it go further down the tubes is less desirable. The other big one is pensions.” 

VIEW LESS