Experts: NYC Could Go Bankrupt for First Time in 40 Years

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1989TransAm
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Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by 1989TransAm » Sun Mar 10, 2019 6:38 pm

Another dimoKKKRAT utopia with cash flow problems. #-o

"New York City is headed for financial ruin and could go bankrupt for the first time in 40 years, financial experts say. Financial experts predict that there are already signs the city is headed for financial disaster, as many individuals and businesses are leaving the city for lower tax areas and city government spending is at an all-time high.
The last time the city came close to filing for bankruptcy was in 1975 when former President Gerald Ford refused to give the city a bailout package to settle its debt.
“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,” economist Milton Ezrati told the New York Post. “New York is already in a difficult financial spot, but it would be in an impossible situation if we had any kind of setback.”
The city’s budget deficit has reached an all-time high over the past year. New York City’s long-term liabilities— including pensions, bonded debt, and retirement benefits for city government employees— reached a record-high $257.3 billion, according to an October 2018 Citizens Budget Commission report.
Even though the city’s budget deficit has reached record highs, Mayor Bill de Blasio has shown no signs of curbing the city’s spending.
In fact, de Blasio is adding $3 billion in spending to the current $89.2 billion budget, and spending money at a rate that is three times the rate of inflation, according to the Post.
It also appears that de Blasio will not get help from fellow Democrat Gov. Andrew Cuomo, who is trying to address a $2.3 billion state budget deficit by using auditors to bill wealthy residents fleeing the state for lower-tax regions."

https://www.breitbart.com/economy/2019/ ... -40-years/

Firedome8
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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by Firedome8 » Sun Mar 10, 2019 7:40 pm

1989TransAm wrote:
Sun Mar 10, 2019 6:38 pm
Another dimoKKKRAT utopia with cash flow problems. #-o

"New York City is headed for financial ruin and could go bankrupt for the first time in 40 years, financial experts say. Financial experts predict that there are already signs the city is headed for financial disaster, as many individuals and businesses are leaving the city for lower tax areas and city government spending is at an all-time high.
The last time the city came close to filing for bankruptcy was in 1975 when former President Gerald Ford refused to give the city a bailout package to settle its debt.
“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,” economist Milton Ezrati told the New York Post. “New York is already in a difficult financial spot, but it would be in an impossible situation if we had any kind of setback.”
The city’s budget deficit has reached an all-time high over the past year. New York City’s long-term liabilities— including pensions, bonded debt, and retirement benefits for city government employees— reached a record-high $257.3 billion, according to an October 2018 Citizens Budget Commission report.
Even though the city’s budget deficit has reached record highs, Mayor Bill de Blasio has shown no signs of curbing the city’s spending.
In fact, de Blasio is adding $3 billion in spending to the current $89.2 billion budget, and spending money at a rate that is three times the rate of inflation, according to the Post.
It also appears that de Blasio will not get help from fellow Democrat Gov. Andrew Cuomo, who is trying to address a $2.3 billion state budget deficit by using auditors to bill wealthy residents fleeing the state for lower-tax regions."

https://www.breitbart.com/economy/2019/ ... -40-years/
Did you notice the 22 000 000 000 000.00$ deficit ?

1989TransAm
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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by 1989TransAm » Sun Mar 10, 2019 10:16 pm

Start your own thread. This one is about NYC. [-X

Firedome8
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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by Firedome8 » Sun Mar 10, 2019 11:20 pm

1989TransAm wrote:
Sun Mar 10, 2019 10:16 pm
Start your own thread. This one is about NYC. [-X
Same subject, not spending within your means.

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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by David Redszus » Mon Mar 11, 2019 1:44 pm

So, let them go bankrupt. The sooner the better.

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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by Firedome8 » Mon Mar 11, 2019 6:02 pm

David Redszus wrote:
Mon Mar 11, 2019 1:44 pm
So, let them go bankrupt. The sooner the better.
Do you think that should've been the course of action in 2008 ?

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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by j-c-c » Mon Mar 11, 2019 8:20 pm

1989TransAm wrote:
Sun Mar 10, 2019 10:16 pm
Start your own thread. This one is about NYC. [-X
So?

There are now rules? :roll:

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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by David Redszus » Tue Mar 12, 2019 12:35 am

Firedome8 wrote:
Mon Mar 11, 2019 6:02 pm
David Redszus wrote:
Mon Mar 11, 2019 1:44 pm
So, let them go bankrupt. The sooner the better.
Do you think that should've been the course of action in 2008 ?
Yes I do. Poor judgement, like bad behavior, must have a consequence attached.
The most severe being assessed against the legislators who approved the laws they passed.

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Re: Experts: NYC Could Go Bankrupt for First Time in 40 Years

Post by gmrocket » Tue Mar 12, 2019 9:28 am

Another leftist utopia working just like it's suppose too

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