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For a community to have a large rainy day fund and no debt is the situation that any local government official would truly die for.

Source: Washington Post | Gaithersburg, Md. | November 17, 2011



Donald F. Kettl, dean of the University of Maryland School of Public Policy, referring to Gaithersburg, Md., a Washington suburb, which has zero debt and $33 million in its rainy day fund. The city has been debt-free since the early 1970s.

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