MacIver Newsmakers Podcast: Fact Checking Predictions of a Milwaukee Bankruptcy

The MacIver Report: Wisconsin This Week

Wisconsin lawmakers are fast tracking a plan to bailout Milwaukee to prevent it from declaring bankruptcy. They claim it would be devastating for everyone in Wisconsin if that happened. "We understand that bankruptcy for the City and County would be detrimental for the entire state," said Sen. Mary Felzkowski, one of the bill's authors. She says AB245 would "hopefully prevent them from spiraling into a post-bankruptcy Detroit." It's funny she brings up Detroit. Like Milwaukee, it's the largest city in a midwestern state with a strong manufacturing background. It also calls into question any claim that Milwaukee declaring bankruptcy would have any impact on outstate Wisconsin. Michigan tried everything to bail Detroit out of its self-made financial problems, including several revenue raising options not available to any other city in the state, direct intervention, and eventually allowing it to declare bankruptcy. MacIver's Bill Osmulski talked to James Hohman, Director of Fiscal Policy at Michigan's Mackinac Center for Public Policy, about the situation surrounding Detroit, and what it might mean for Milwaukee. For example, Did Detroit's bankruptcy affect Michigan's bond rating? Did Michigan lose population because of Detroit's bankruptcy? Did MIchigan lose industry because of Detroit's bankruptcy? Listen to this edition of the MacIver Newsmakers Podcast to find out!