Americans Believe More Big City Bankruptcies on the Horizon
Detroit declared the largest municipal bankruptcy case in U.S. history on July 18, but most Americans believe it won't be the only U.S. city to go bust.
A new Rasmussen Reports poll showed 74 percent of Americans think it's at least somewhat likely that more major cities will file for bankruptcy in the near future -- that number includes 44 percent who say it's very likely.
Only 42 percent of Americans now believe that if a city is unable to pay its financial obligations, it should be allowed to file for bankruptcy. Twenty-nine percent oppose bankruptcy for these cities. Almost as many -- 28 percent -- are not sure.
Americans largely believe the government should not provide bailout funding for cities with serious financial problems. Fifty-seven percent oppose federal bailouts, while only 25 percent of Americans believe the federal government should provide bailout funding for such cities. Eighteen percent are undecided.
The national survey of 1,000 adults was conducted July 21-22. The margin of sampling error is +/- 3 percentage points with a 95 percent level of confidence.
Comments are now closed.