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First Detroit & Then Chicago, Now New York City "Headed For Financial Ruin"

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  • Reynolds
    Moderator
    • Oct 2018
    • 3004

    First Detroit & Then Chicago, Now New York City "Headed For Financial Ruin"

    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 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

    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.


  • boerseun3
    White Dragon #11
    • Dec 2018
    • 143

    #2
    Re: First Detroit & Then Chicago, Now New York City "Headed For Financial Ruin"

    Wherever there is white civilisation, it is "Headed For Financial(and other) Ruin"..........
    Last edited by boerseun3; 11 Mar 2019, 08:36. Reason: ad
    Disclaimer: Nothing whatsoever i say on this or any other site should ever be construed as encouraging or incitement to commit unlawful acts, or as a statement of intent to commit any myself.

    NB! Thanks to all whoever repped me, much obliged and all highly appreciated.
    14:88

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    • Fred O'Malley
      I AM THE PALE HORSEMAN
      • Apr 2013
      • 173622

      #3
      Re: First Detroit & Then Chicago, Now New York City "Headed For Financial Ruin"

      All communist cities. All rich in niggers and Mex freeloaders.
      Government is a DISEASE - FREEDOM is the CURE
      Integrity is doing the right thing when no one else is watching.
      “Men fear thought as they fear nothing else on earth — more than ruin, more even than death. Thought is subversive and revolutionary, destructive and terrible, thought is merciless to privilege, established institutions, and comfortable habits; thought is anarchic and lawless, indifferent to authority, careless of the well-tried wisdom of the ages. Thought looks into the pit of hell and is not afraid … Thought is great and swift and free, the light of the world, and the chief glory of man.”Bertrand Russell, Why Men Fight

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