The proven result of socialism and unbridled government spending. Meanwhile people can’t figure out what Mayor de Blasio’s wife has done with $850 million.

Quote: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.

Link

(03-12-2019 11:56 AM)usmbacker Wrote:  The proven result of socialism and unbridled government spending. Meanwhile people can’t figure out what Mayor de Blasio’s wife has done with $850 million.

Quote: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.

Link

They need to remember this in 2020.

(03-12-2019 12:12 PM)UofMstateU Wrote:  

(03-12-2019 11:56 AM)usmbacker Wrote:  The proven result of socialism and unbridled government spending. Meanwhile people can’t figure out what Mayor de Blasio’s wife has done with $850 million.

Quote: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.

Link

They need to remember this in 2020.

Also THIS part (the 'why) since the left's argument is that we should increase taxes and increase benefits

Obviously, they just didn't do it right. Same problem Venezuela had. Bernie and his merry band of socialists will do it the right way. Just trust them.

(03-12-2019 01:29 PM)Hambone10 Wrote:  

(03-12-2019 12:12 PM)UofMstateU Wrote:  

(03-12-2019 11:56 AM)usmbacker Wrote:  The proven result of socialism and unbridled government spending. Meanwhile people can’t figure out what Mayor de Blasio’s wife has done with $850 million.

Quote: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.

Link

They need to remember this in 2020.

Also THIS part (the 'why) since the left's argument is that we should increase taxes and increase benefits

Notice how they blamed tax reform, and not the fact that their taxes are much more outrageous than other places. All tax reform did was to remove the shield of how high their taxes were. Once that shield was gone, they weer exposed.

Just how long were these guys not paying their fair share.........

The point is that if you raise taxes, people will leave. Or at least for the wealthy, their money will leave. To deny this flies in the face of the NY experience. Amazon was a different example, but still... the money and jobs left and will go somewhere else.

And 'benefits' are at an all-time high.... but still vastly below what is being proposed

Remember that it only fails because of conservatives.

Just in time for my work trip next week!!!