federal government

The nation is now one day away from a deadline to raise the debt ceiling as the partial government shutdown begins Day 16. Financial markets are waiting to see if the nation can avert default as all eyes turn to the Senate. Along with national parks opening on a state-by-state basis, the fish and wildlife service […]

Most recently, Detroit became the largest municipality in U.S. history to file for bankruptcy. The state had already appointed an emergency financial manager for the city, saddled with debts totaling an estimated $18 billion. Overall, though, bankrupt municipalities remain extremely rare. A Governing analysis estimated only one of every 1,668 eligible general-purpose local governments (0.06 […]