Dr. Kim Phillips-Fein discusses her book Fear City: New York’s Fiscal Crisis and the Rise of Austerity Politics. When the news broke that New York City was on the brink of fiscal collapse, few believed it was possible. Yet, the city was indeed billions of dollars in the red, with no way to pay back its debts. Fear City tells the remarkable story of the financial crisis that engulfed the city, permanently transformed New York, and reshaped ideas about government across America.