During a long-period,local government of the United States can issue bonds to lend money,and this has played an important role in the promotion of local economic and social development. Because of the economic recovery is very weak,the investment scale is too large,and other factors,recently the phenomenon of American local government debt crisis appeared frequently. The local government is facing bankruptcy because of the debt scale is too large and the inability to repay the debt. These phenomena reveal that current local government debt management system of United States still exist defects. To analyze cases of local government bankruptcy of the United States can bring enlightenment to our country to regulate the development of the local government debt financing behavior. <<