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.
“The city is running a deficit and could be in a real difficult spot if we had a recession, or a further flight of individuals because of tax reform,” said Milton Ezrati, chief economist of Vested.
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8 comments:
And he wants to tax the millionaires more that live there and tax the millionaires mote that left there. It's not all about the city of New York but the rest of New York State most suffer.
Ill have a party when that garbage pit goes into bankruptcy. The only thing better would be New Jersey and California.
@3:31 what you fail to realize I'd you and I will be the ones paying to bail them all out
And they are passing off the health of their first responders to the Federal Government because of 9/11 which is a lot of BS. They had / have health insurance and they had / have workman comp. As a tax payer I should not be held responsible for their on the job injury. A big scam to help the insurance companies.
Everybody in the state will be on the hook to keep NYC afloat, just as they have been since the 1950's.
cant fix democrat failures..with more democratic stupidity
Good F them liberal bastards!
Run by democrats
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