The Coming
Municipal Financial Crisis

Russell H. Walters Bio
Walters’ debut novel will open your eyes about the coming municipal financial crisis in a stimulating thriller that serves as an early warning for cities across our nation.

Russ Walters is a professional engineer, receiving his Bachelor’s and Masters’ degrees at Bucknell University and The Johns Hopkins University, respectfully. He was employed in his early career in defense contracting and process control. He then spent over fifteen years in the construction industry building and eventually selling a company he built from scratch. He grew up in Maryland, playing football whenever there was enough daylight to see the ball. He moved to the Philadelphia area in the mid-nineties to marry his college sweetheart, Wendy. He is a father to three awesome kids and an occasional foster child. He enjoys a variety of shooting sports and competes in sporting clays. He also volunteers his time making home repairs for widows and the handicapped in his community.

His daily construction work in the homes and businesses in Philadelphia’s toughest neighborhoods form the foundation for his debut novel, the financial thriller Bankrupture.

I wrote the financial thriller novel Bankrupture as one version of a worst case scenario of the impending debt bomb that is going to explode for cities and states across our great nation. I used Philadelphia as the basis for this story and because its debt problem is exploding, albeit off the headlines. From 2003 to 2016, the city’s total debt level nearly doubled from $8 billion dollars to $15.6 billion. Extrapolating that trend, the debt level will be about $27 billion in 2028. How much debt is that? The city only collected $5 billion in total tax revenue in 2017. That’s a debt to GDP ratio of over 300%. Even the highly indebted, down on its luck country of Greece has a ratio of 180%. Ouch.

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