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rangerrebew

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Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in unfun
« on: February 02, 2019, 03:42:28 pm »

Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in unfunded debt

    By Bethany Blankley | Watchdog.org Jan 30, 2019 Updated Jan 31, 2019
 

According to a recent analysis of the 75 most populous cities in the U.S., 63 of them can’t pay their bills and the total amount of unfunded debt among them is nearly $330 billion. Most of the debt is due to unfunded retiree benefits such as pension and health care costs.

“This year, pension debt accounts for $189.1 billion, and other post-employment benefits (OPEB) – mainly retiree health care liabilities – totaled $139.2 billion,” the third annual "Financial State of the Cities" report produced by the Chicago-based research organization, Truth in Accounting (TIA), states.

“Many state and local governments are not in good shape, despite the economic and financial market recovery since 2009,” Bill Bergman, director of research at TIA, told Watchdog.org.

http://www.hartfordcitynewstimes.com/news/nation/report-out-of-america-s-largest-cities-can-t-pay/article_6087a94d-0db6-5db8-b48c-c83901a02c3f.html
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Offline austingirl

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #1 on: February 02, 2019, 05:20:10 pm »
Where will they get the money? Plunder and pillage fiscally responsible areas?
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Online dfwgator

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #2 on: February 02, 2019, 05:21:09 pm »
Quote from: austingirl on February 02, 2019, 05:20:10 pm
Where will they get the money? 

Got a mirror?
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Offline Elderberry

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #3 on: February 02, 2019, 05:47:39 pm »
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Online Fishrrman

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #4 on: February 02, 2019, 11:28:04 pm »
New York City is by far the worst.
Who's gonna bail 'em out this time?
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Online 240B

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #5 on: February 02, 2019, 11:35:53 pm »
They will pay for it the Alexandria Cortez way.

Cortez says, 'We will pay for it the same way anybody pays for anything. You just pay for it?'
Now if that is not a sound economic plan, then I don't know what is.
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Offline Sanguine

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #6 on: February 03, 2019, 12:16:55 am »
Quote
The top five cities in the worst financial shape are New York City, Chicago, Philadelphia, Honolulu, and San Francisco. These cities, in addition to Dallas, Oakland, and Portland, all received “F” grades.

In New York City, for example, only $4.7 billion has been set aside to fund $100.6 billion of promised retiree health care benefits. In Philadelphia, every taxpayer would have to pay $27,900 to cover the city’s debt; in San Francisco, $22,600 per taxpayer.

If anyone is interested, you can download the report here:  https://www.truthinaccounting.org/news/detail/2019-financial-state-of-the-cities
« Last Edit: February 03, 2019, 12:20:23 am by Sanguine »
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Online dfwgator

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #7 on: February 03, 2019, 12:23:29 am »
Quote from: Fishrrman on February 02, 2019, 11:28:04 pm
New York City is by far the worst.
Who's gonna bail 'em out this time?

I'm sure they've got the headline, "Trump To City, 'Drop Dead'" ready to go.
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Offline LegalAmerican

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #8 on: February 03, 2019, 12:49:13 am »
More like most people DON'T want to pay their bills.  Chicago article about truth in accounting?  OXYMORON.  CHICAG0=TRUTH.

Yup, like I thought. DEMOCRAT run city's. Ghetto's, ILLEGALS..Muslims....more welfare, riots, drugs.
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The top five cities in the worst financial shape are New York City, Chicago, Philadelphia, Honolulu, and San Francisco. These cities, in addition to Dallas, Oakland, and Portland, all received “F” grades.=ARTICLE
« Last Edit: February 03, 2019, 12:53:21 am by LegalAmerican »
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Offline LMAO

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #9 on: February 03, 2019, 01:46:54 am »
Anybody want to guess what all these cities have in common?
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Offline LMAO

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #10 on: February 03, 2019, 01:48:11 am »
Quote from: austingirl on February 02, 2019, 05:20:10 pm
Where will they get the money? Plunder and pillage fiscally responsible areas?

We are going to see a lot of "mini Greece's" in the coming years
here in America
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I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline truth_seeker

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #11 on: February 03, 2019, 02:39:01 am »
# One.

Irvine, California.

The OC

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Offline LMAO

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #12 on: February 03, 2019, 07:05:40 am »
Many of these cities are also very high tax cities
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I have little interest in streamlining government or in making it more efficient, for I mean to reduce its size. I do not undertake to promote welfare, for I propose to extend freedom. My aim is not to pass laws, but to repeal them.

Barry Goldwater

http://www.usdebtclock.org

My Avatar is my adult autistic son Tommy

Offline sneakypete

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #13 on: February 03, 2019, 01:40:37 pm »
Quote from: austingirl on February 02, 2019, 05:20:10 pm
Where will they get the money? Plunder and pillage fiscally responsible areas?

@austingirl

Yes,but on a more sophisticated level. They will get the state and feral government to do this for them in the form of increased taxes.
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Offline austingirl

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #14 on: February 03, 2019, 05:24:08 pm »
Quote from: sneakypete on February 03, 2019, 01:40:37 pm
@austingirl

Yes,but on a more sophisticated level. They will get the state and feral government to do this for them in the form of increased taxes.
@sneakypete
Tax the rich, feed the poor, til there are no rich no more
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Offline sneakypete

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Re: Report: 63 out of America’s largest 75 cities can’t pay their bills, acquired $330 billion in u
« Reply #15 on: February 03, 2019, 06:17:43 pm »
Quote from: austingirl on February 03, 2019, 05:24:08 pm
@sneakypete
Tax the rich, feed the poor, til there are no rich no more

@austingirl

Yup,Alvin Lee was singing about this insanity back in the mid-60's,but not enough people listened.
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