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Watching all the protests and crime Mayor Adams said the migrant crisis WILL bankrupt the city.
I understand this is very bad for manhattan and Brooklyn, Queens, Staten Island and the Bronx
But how does this affect Nassau County ?
I know many young city workers (firefighters etc) who could potentially lose their jobs
Watching all the protests and crime Mayor Adams said the migrant crisis WILL bankrupt the city.
I understand this is very bad for manhattan and Brooklyn, Queens, Staten Island and the Bronx
But how does this affect Nassau County ?
I know many young city workers (firefighters etc) who could potentially lose their jobs
It can't go bankrupt, it is against the law and the City budget has to be balanced, which is why the Mayor has to choose which resources to cut back on.
The city workers are unionized, you think they loose their jobs? Come on. It's additional resources like Libraries open on Sundays which is on the chopping block. Less pick up days for garbage, and ect that gets cut.
That said, the City is alive and well, don't read into the news as your only source of info, first hand knowledge probably more important!!
It can't go bankrupt, it is against the law and the City budget has to be balanced, which is why the Mayor has to choose which resources to cut back on.
The city workers are unionized, you think they loose their jobs? Come on. It's additional resources like Libraries open on Sundays which is on the chopping block. Less pick up days for garbage, and ect that gets cut.
That said, the City is alive and well, don't read into the news as your only source of info, first hand knowledge probably more important!!
It can go bankrupt. Nothing is guaranteed. It’s law they need to have a balanced budget.
It can't go bankrupt, it is against the law and the City budget has to be balanced, which is why the Mayor has to choose which resources to cut back on.
The city workers are unionized, you think they loose their jobs? Come on. It's additional resources like Libraries open on Sundays which is on the chopping block. Less pick up days for garbage, and ect that gets cut.
That said, the City is alive and well, don't read into the news as your only source of info, first hand knowledge probably more important!!
I have first hand knowledge of exactly what’s going on all over the city. My sister and her husband quit their high paying jobs in Manhattan and sold their house moved to Texas . My girlfriend’s husband and her adult son are both firefighters in Manhattan.
Another good friend works for the MTA so I hear the horror stories that are NOT on the news.
I don’t think Biden cares in the slightest if NYC goes bankrupt. Never say never
It can't go bankrupt, it is against the law and the City budget has to be balanced, which is why the Mayor has to choose which resources to cut back on.
The city workers are unionized, you think they loose their jobs? Come on. It's additional resources like Libraries open on Sundays which is on the chopping block. Less pick up days for garbage, and ect that gets cut.
That said, the City is alive and well, don't read into the news as your only source of info, first hand knowledge probably more important!!
Are two of the more famous municipal bankruptcies in USA history.
NYC came close to bankruptcy in 1970's. It took fancy footwork from federal and NYS government along with a determined mayoral administration to bring city back from that brink.
Are two of the more famous municipal bankruptcies in USA history.
NYC came close to bankruptcy in 1970's. It took fancy footwork from federal and NYS government along with a determined mayoral administration to bring city back from that brink.
Are two of the more famous municipal bankruptcies in USA history.
NYC came close to bankruptcy in 1970's. It took fancy footwork from federal and NYS government along with a determined mayoral administration to bring city back from that brink.
So are you agreeing that it seldomly happens and likely will never happen? Statistically, those two bankruptcies are more of an anomaly, then a guide to what will happen to NYC.
I believe with how fast markets move and how significant credit ratings are, the risk of a potential downgrade would handicap a local govt. Cost to borrow increases, less funding and high debt service, leads to higher taxes, that it becomes a viscious cycle that could lead to a default of payment but not bankruptcy.. ie debt ceiling with the Federal govt. Sets off a chain of reactions, that becomes catastrophic, and why it budget will be balanced.
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