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These cities are going to either have massive tax increases or more massive reductions in service.
352 billion in NY
66 billion in Chicago
45+ billion in LA
24 billion in Houston
12+ billion in Phoenix
The numbers for Chicago, LA, Houston, Phoenix are city only and don't include county, special districts, school districts and all the other debt authorities.
Amazing, how during the largest economic bubble in history that the debt and liabilities have skyrocketed to that extent.
At least 4 out of 5 of these are heavily Democrat. Voters at local, state, and federal levels should pay attention to this ineptitude within Dem-run cities.
At least 4 out of 5 of these are heavily Democrat. Voters at local, state, and federal levels should pay attention to this ineptitude within Dem-run cities.
The national debt under Trump is increasing at a rapid pace. Trump is a republican.
And yet, educated professionals are still flocking to these cities in droves and companies that create good-paying jobs still maintain a significant presence in these cities.
They're not moving to the rural areas or small/mid-size cities that are in "good fiscal health." ¯\_(ツ)_/¯
And yet, educated professionals are still flocking to these cities in droves and companies that create good-paying jobs still maintain a significant presence in these cities.
They're not moving to the rural areas or small/mid-size cities that are in "good fiscal health." ¯\_(ツ)_/¯
Yet they live in wealthy gated purple suburbs away from the 'blue' elements of the city.
And yet, educated professionals are still flocking to these cities in droves and companies that create good-paying jobs still maintain a significant presence in these cities.
They're not moving to the rural areas or small/mid-size cities that are in "good fiscal health." ¯\_(ツ)_/¯
When the debt is no longer serviceable, I would much rather be in a remote rural community than a major city. Chit will hit the fan and hard, if it ever comes to that. It seems like there are protests every week somewhere in a major American city, and these are supposedly the good times. What happens when the bad times rear it's ugly head?
The national debt doubled from 11 trillion to 22 trillion under Obama, it took Odumbo 8 years to rack up what every president since Washington had.
Did I say otherwise? No. But in Obama's case he inherited an economy that was near depression. Trump in turn inherited an economy that was growing for seven straight years, Yet the debt has grown 3 Trillion under Trump. Its a fact.
And remember Trump campaigned that he would wipe out the debt in 8 years. Obviously that was complete BS.
Did I say otherwise? No. But in Obama's case he inherited an economy that was near depression. Trump in turn inherited an economy that was growing for seven straight years, Yet the debt has grown 3 Trillion under Trump. Its a fact.
And remember Trump campaigned that he would wipe out the debt in 8 years. Obviously that was complete BS.
The economy that Trump inherited was the economy that Obama gifted him. Both the Obama economy, and the current Trump economy are dependent on debt creation. It's the same all over the world. Every nation is borrowing and loaning money to keep this globalization thing going forward. Do you have any concept or idea what the debt situation in China is?
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