Uh Oh. NYC Could Go Bankrupt for First Time in 40 Years

Submitted by MAGA Student

Posted 10 days ago

NYC is literally going bankrupt because of their Democratic policies.

From dailymail.co.uk
New York City could be one recession away from bankruptcy, financial analysts are warning.

Experts say that the city’s high tax burden, its net out-migration, and skyrocketing public spending could result in New York’s first bankruptcy in more than 40 years.

‘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 last time New York was close to bankruptcy was in 1975, when then-President Gerald Ford famously refused to bail out the city from its crippling debt.