The overspending that the city engaged in during the Depression, which Siegel decries, may be contributing to the current rebirth of the city's economy, which centers on tourism, culture, financial services, and information technology.
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It's possible the overspending the city did during the Depression is now paying off with the current rebirth of the city's economy.
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They believe there is no connection between the current rebirth of the city's economy and the city's overspending during the Depression.