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.so why should Trump???
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 ...
To Paraphrase the NY Daily News headline from 1975:
“Rest of America to New York- Drop Dead”- Not one dime to bail these mopes out.
Elect Dictators and you get Dictators
____________
Yep
How much of NYC’s normal population is tourists (seeing landmarks and museums and shows) and how much of it is business travelers (a bracket that now teleconferences)?
Without those people filling the hotels and restaurants their take of the bank comes up short.
Good. I hope people leave NYC in droves and those that stay votes the dems out. Let them lose their “city-state” power.
NYT apparently believes the City of New York has some claim on everyone else’s money.
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.so why should Trump???
>>The virus has killed 24,000 people in the city
Over ten percent in the nation.
And it is “Trump’s fault”?
What were they doing? “Ignoring the science”?
The entire state is dying, not just NYC.
Deblasio and Cuomo intentionally did this, in hopes of siphoning off some aid money. They have already raped the pension system dry for illegal immigrant bennifits because money sitting in a pension system cannot be skimmed. You have to have new projects to generate the potential for kickbacks.
So homeless welfare projects and Free College and medical for illegal immigrants is a cash cow for dirty politicians.
Socialism is a wonderful system for corruption, until you run out of other peoples money. When New Yorkers discover the Pension funds are gone there is going to be HELL to pay. Especially when they figure out Cuomo Murdered Granny to get her off of the pension liability side of the equation.
A few million dollars a month is gone on pension payouts cause tens of thousands of pensioners are suddenly dead.
All to cover Cumo and Deblasios crime spree.
The NYC subway system — perhaps the single most likely place on the planet for the transmission of viral pathogens — was never shut down.
In MAY, that mutt Andrew Cuomo announced that the subway cars would be cleaned and disinfected on a regular basis.
The Wuhan virus didn’t destroy NYC. It just exposed a level of ineptitude in city and state government that wouldn’t be tolerated in a cage full of monkeys at the zoo.
Trump doesn’t “scorn the city of his birth”. He rushed them ventilators. He converted the Javitz center into a 3000 bed hospital. He sent a Navy medical ship into NYC’s harbor. He scorns the political atmosphere and the political leadership... both deserving of scorn by all. In a city that votes 75% Democrat, you probably have near universal consensus that their Democrat mayor is an imbecile.
And I will never understand why NY Governor Cuomo issued two contradictory orders - one, prohibiting visitors to nursing homes to prevent visitors from bringing Covid19 virus inside (a good idea) while simultaneously ordering nursing homes to bring known infected Covid19 victims into nursing homes (ridiculously stupid, reckless, and self-defeating). There is something rotten underneath that decision, probably having to do with money, federal aid, medicare, etc...
No pity from me. NYC asked and voted for its own demise.
Embrace the suck NYC.
Oh, and by the way, the taxpayers of America do not want to pay for your self inflicted disaster. Bug off idiots.
‘Democrat problems™’
I hope this topic comes up during the debate with Biden tonight. Also California’s messes as well as San Fran, Seattle, Chicago, and every other major Liberal-run city.
Great way to clean out the middle class riffraff and lower the prices of real estate in NYC to have only tyrants and serfs living in the city.
Partial agreement.
They shutdown the private sector, and kept the Government open
Maddness
Great news for banks, brokerages, and IT firms! Tough for the rest of society.
REMEMBER THIS: New York/NYC teachers have great pensions. I mean six figure pensions for life. I’ve seen some pensions in the $150K range.
Yet they are EXEMPT from paying NY state income tax in the state of NY on their tax payer funded pensions. They want more money for “education” but they don’t want to pay their fair share.
Cuomo, deblasio and the third world legislature, you dont have to look far
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