The Briefing Room
General Category => National/Breaking News => Topic started by: rangerrebew on March 10, 2019, 11:02:21 am
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New York City is edging toward financial disaster, experts warn
By John Aidan Byrne
March 9, 2019 | 10:10pm
Christopher Sadowski
New York City is careening closer to all-out financial bankruptcy for the first time since Mayor Abraham Beame ran the city more than 40 years ago, experts say.
As tax-fleeced businesses and individuals flee en masse, and city public spending surges into the stratosphere, financial analysts say Gotham is perilously near total fiscal disaster.
Long-term debt is now more than $81,100 per household, and Mayor de Blasio is ramping up to spend as much as $3 billion more in the new budget than the current $89.2 billion.
https://nypost.com/2019/03/09/new-york-city-is-edging-toward-financial-disaster-experts-warn/
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What a surprise!
Actually, I see a number of cities and states heading for disaster. As the article points out, tax and spend is killing them. As the overburdened producer population flees, there is no one left to pay to hold the governments up.
Maybe they can get the feds to help by printing mooe money. Yeah. That'll work. *****rollingeyes*****
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Maybe they can get the feds to help by printing mooe money. Yeah. That'll work. *****rollingeyes*****
That’s what may end up happening
This is the result of too many promises to too many people. That, along with the ditz driving out high paying jobs.
This may dampen De Blasio’s promises of healthcare for all NYC residents.