Whether Detroit’s slumping population was cause or effect (or both) in its demise remains up for discussion; either way, in the ever-more-entitled and ever-less-working world in which we live, a declining population in the face of increasingly promised benefits has only two ends – death (bankruptcy) or taxes. In spite of almost record-low Muni market yields (and spreads), risks remain – just ask the HY market… and these 25 cities have the highest rate of population decline in America.