Daugherty Quoted on Municipal Deficits

Foley Partner Patrick Daugherty was quoted in an article that appeared in Fund Strategy on January 17, 2011 titled “State of affairs compounds the woe.” Daugherty discusses widespread municipal deficits which were uncontained by the economic-stimulus bill. He predicts that cities, rather than states, will report high-profile defaults in 2011, adding that funds allotted towards pension obligations are leaving little money to finance infrastructure or build roads.