What could drive Camden -- aka America's second most violent city -- to fire half its police force? With similar cuts in Jersey City and Newark?
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How about $10,694 municipal debt per employed person in Camden County, according to Gridlex.
$16,091 debt per employed person in Jersey City's Essex County. $16,766 debt per employed person in Newark's Hudson County.
The existing debt, which doesn't include state and federal debt per person, is the key limit on municipal bond issuance. The only alternative for cities is to slash spending.
