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 outbreaks 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 ...
I’m sure when the State collects inheritance taxes from all those seniors the Democrats basically killed the budgets will balance (a bit).
Many businesses, around the country and around the world have come to the realization that office space has largely been made superfluous. As long as you have high speed internet available. It will be one of the far-reaching and paradigm-shifting results of the pandemic. My nephew's office in Manhattan has basically been shut down. The company's lease is up tomorrow; I don't think they're renewing it. He's been working from home for three months.
If Cuomo and Deblasio would quit lining their pockets with all the federal monies they received, they wouldn’t be in this bad financial shape.
That's what happens when the mayor basically neuters the police force and institutes catch-and-release with respect to punishment.
‘Most common news lead-in tomorrow morning: During the debate, Trump claimed - with no evidence - that...’
Yep you are right.
But it should be this:
Most common news lead-in tomorrow morning: During the debate, Biden claimed - with out thinking - that...’
100%
Our givenor, newsum, made a point to demonstrate that while we have plateaued in Calipornia the number of infections is rising and that is of some serious concern to health directors in the state.
Laying the ground work for a sequel
Middle class? In NY? Its the rich that are leaving in droves. Apparently trying to not pay the higher taxes that the NY Times says Trump doesn’t pay.
In April, Cuomo was the darling of the left.
WSJ: “Could Cuomo Mount a Presidential Bid in 2020? Its a Fever Dream”
“poll ... found 52% of Democrats preferred Mr. Cuomo to Mr. Biden”
Maybe painting more streets with more gigantic BLACK LIVES MATTER slogans would help.
Were nursing home patients riding the subways?
Somehow I doubt it. But I guess you didn’t read the entirety of my post. It seems about half of NYC deaths came from the extremely reckless, and very suspicious, decision by the governor. What he did makes no sense. On the one hand, he said he wanted to protect the most vulnerable by banning visitors to nursing homes to keep the virus out (which is reasonable even with what we now know), while on the other hand literally ordering infected people into nursing homes. Two contradictory orders that cannot be reconciled logically. Thus, it is suspicious and worthy of independent investigation. What motivated him to order people with the virus into homes? My guess, money. Given the corruption in Albany noted over the years even more worthy of investigation.
However and unfortunately, the people who worked in nursing homes probably did ride the subway.
The middle class are abandoning ship as well.
Just before we moved out, it seemed like every where I went, I heard people talking about someone t hey knew or they themselves, packing up for greener pastures.
The middle class is abandoning ship there, at least in Upstate NY.
WTH? Can't they just raise taxes? That always works.
/s
This cough virus is little different from the flu and primarily affects 80+ year olds. Eventually all of us will be exposed. Shutting down mass transportation is cutting your throat to stop a nose bleed. If you dont believe this, Fauci and Gates have a snake oil vaccine to sell you...
GOOD
Not if ya listen to Jerry Seinfeld, who of course lives in a mansion on Long Island. :^) Here's a blast from his past:
Comedians in Cars Getting Coffee S01 E08 Colin Quinn amp Mario Joyner
The “help” they ask for is bailouts for non-related crap.
Not buying it. I fiund out several local churches took million in payroll protection to stay closed. If it is true for churches, how much more so for those other industries.
Afraid the stay closed and get paid fountain of free money is coming to an end?
No end in sight.
Just an observation. The pandemic didn’t cause the problem. Stupid decisions and policies enacted by Cuomo and DeBlasio did.
Yep, all correct. They killed everyone they could kill with it.
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