If you want to understand the difference between Chicago's situation and Detroit's, consider that people are seriously talking as if it might be possible to handle their pension problem by doubling Chicago's property tax, whereas no one was foolish enough to think that doubling Detroit's property tax would accomplish anything except the complete abandonment of the city. I'm sure some other cities will go bankrupt at some point--some already have. But to be as fiscally messed up as Detroit is a pretty high bar.
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