Is Columbus the brokest city in America? - WTVM.com-Columbus, GA News Weather & Sports

Is Columbus the brokest city in America?

The city of Columbus is top on the list for being the brokest town in the U.S., that's according to Newsweek's The Daily Beast.

The Daily Beast says it based its information on reports from Experian and national labor statistics.

The report takes into account an area's jobless rate, median household income, average personal debt and average credit score.

Columbus's unemployment rate stands at 9.8 %, with the median household income at $36,500.

The average household debt in the Fountain City is almost $28,000.

Savannah, Georgia was on the same list at #25 and Birmingham, AL came in at #23.

Tuesday, Columbus Mayor Teresa Tomlinson called the article "patently absurd" and "irresponsible".

"We know for certain that their data is wrong. The median income figure and the employment rate are not correct. Accordingly, we have no reason to believe their so-called ‘personal debt' level is current. Probably the most telling error is that even using their own incorrect data, their math is wrong. So, by the article's own alleged three-pronged criteria, Columbus is not the ‘brokest' on the list, much less America," Mayor Tomlinson explains.

"The numbers presented show there is no rational basis for the approach used. The slightest change, such as using the more accepted debt-to-income ratio instead of the personal debt amount dramatically adjusts the ranking. Including the referenced, but mysteriously excluded, ‘credit score' in the computation also dramatically adjusts the ranking. If there was any legitimate statistical point to be made here, the rankings would not fluctuate so when similar or related data is used", continued Mayor Tomlinson.

To see the Daily Beast's full list, click here.

Copyright 2011 WTVM. All rights reserved.   

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