Posted on 09/29/2020 2:57:09 PM PDT by karpov
The unemployment rate in New York City is 16 percent, twice as high as the rest of the country. Personal income tax revenue is expected to drop by $2 billion this fiscal year. Only a third of hotel rooms are occupied, and apartment vacancies in Manhattan have hit a peak.
New York, more than any large city in the world, has been forced to grapple with the coronavirus outbreak’s dual paths of devastation: The virus has killed 24,000 people in the city and has sapped it of hundreds of thousands of jobs and billions of dollars in tax revenue.
And even as the city has contained the spread of the virus, it has been unable to exert control over its threat to the economy.
Numerous economic indicators suggest that New York City will face an extended financial crisis, the likes of which has not been seen since the 1970s.
The city has already slashed spending to make up for billions of dollars in lost tax revenue, but it may lose billions more.
Mayor Bill de Blasio and Gov. Andrew M. Cuomo have repeatedly asked the Trump administration for help, but the president, a native New Yorker who openly scorns his city of birth, has instead threatened to cut its federal funding. Should he win re-election in November, it seems likely that the city will be forced to implement drastic layoffs and service cuts.
New York City may even be compelled to borrow just to keep everyday services running; the mayor has asked state leaders to grant the city the authority to do so. So far, the state has resisted.
Shootings are on the rise, some New Yorkers are fleeing for the suburbs, businesses are reconsidering their need for office space
(Excerpt) Read more at nytimes.com ...
Elect Dictators and you get Dictators
Sure. It's Trump's fault.
New York’s death wasn’t the result of a war. It was the result of a suicide.
NYC will be ok. It’s the capital of international finance. But you can kiss the middle class goodbye. This is a tragedy. But commies like DeBlasio and Cuomo don’t care. They want political power over the deplorables who populate much (not a majority, but still a substantial portion) of the city and state. Get out while you can.
We all make choices, some good some bad, I guess New Yorkers chose poorly.
good
Just because he scorns de Blasio and Cuomo doesn't means he scorns New York City and New York State.
The egos on these Democrats are beyond belief.
You object to something Obama does and you therefore hate black people. You object to something Hillary does and you therefore hate women.
I would not blame it on the pandemic. Blame it on the politicians.
FTA:
Mayor Bill de Blasio and Gov. Andrew M. Cuomo have repeatedly asked the Trump administration for help, but the president, a native New Yorker who openly scorns his city of birth, has instead threatened to cut its federal funding.
~~~~~~~~~~~~~~~~~~~
Oh, I see, it’s all Trump’s fault.
I beg to differ.
This wasn’t suicide.
It was mass murder.
Tough schiff New Yorkers. You voted for your tyrants, not you have to live with the results.
Their only hope in a Biden bailout.
they really didn’t see this coming?
OR
they expected a bailout
I know. Your taxes are too low.
Ford to New York: Drop Dead.
we need to see an updated version of that headline.
The virus didn’t wreck New York.
Suicide of the city.
Mass murder of its civilians by de blasio/cuomo
Yes, it’s all Trump’s fault that the extremely liberal Democrat voters in the state of New York voted for the extremely liberal failed Democrat Gov. Andrew Cuomo and the extremely liberal failed Democrat Mayor Bill DeBlasio.
That makes perfect sense to me. Then again, I’m an extremely liberal failed Democrat. ;)
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