Something’s hit the fan in Jefferson County Alabama. The problem is sewage and lots of it. The county is in debt up to their eyeballs – more than $3 Billion in a failed sewage deal. Bad decisions, corruption and financing gone bad caused the largest municipal bankruptcy in US history. Sound familiar? If only the Jefferson County elected officials had considered privatization of the wastewater sewer system they may have avoided stepping in it altogether.
Instead, “some Democrats said proposed sewer-rate increases were unfairly burdensome on the poor, while some Republicans opposed a separate proposal for a new tax.” So Jefferson County with the support of the Birmingham City Council, just went ahead and declared bankruptcy.
They are now under Chapter 9 protection while they try to clean up the mess.
