Pennsylvania's Capital Declares Bankruptcy

It's been 20 years since Orange County, California filed bankruptcy under what's called "Chapter 9." Now the capital of Pennsylvania, has invoked that little-used provision of the bankruptcy code. Harrisburg says it can't continue providing critical services at the same time it's paying off $300 million in debt for an incinerator project. The city council's attorney says Chapter 9 will give it bargaining power with creditors and the state, which is considering a takeover. Are other cities in trouble, too? We ask Michael Pogano, Dean of the School of Public Affairs at the University of Illinois at Chicago.