Posted on 03/19/2019 12:27:15 PM PDT by WWII_Historian
Recently, non-government organization Truth in Accounting published a reportabout the financial condition of the 75 largest cities of America. As it turns out, 63 out of 75 cities in America were not able to pay bills at the end of the fiscal year of 2017.
The final result of this study was the calculation of the burden borne by taxpayers in these American cities. The formula is simple: the financial balance of the city (positive or negative) is divided by the number of inhabitants. The result is a good assessment of how effectively the city authorities work, depending on the positive or negative financial balance of the city per capita.
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For example, in San Francisco (California), the last Republican mayor was elected in 1964, in Honolulu (Hawaii) in 1994, in Philadelphia (Pennsylvania) in 1954, and in Chicago (Illinois) in 1931.
In New York, America's city in the most dramatic financial hole, the last real Republican mayor left the office in 2001. Republican Rudy Giuliani was replaced by pseudo-Republican Michael Bloomberg, who eventually left the Republican Party. Since 2014, the mayor of New York has been the communist Bill de Blasio, who methodically injects socialism into the city.
The financial results of the Democrats' reign are such that the financial debt of Chicago and Philadelphia is about 30,000 dollars per resident. New York has fallen into a financial abyss, with more than 60,000 dollars for each resident of the city.
The financial capital of the world is naturally moving toward bankruptcy. By some estimates, this bankruptcy is inevitable. Pensioners of American cities, where Democratic mayors are traditionally elected, should be prepared for the fact that pension funds of such cities will stop paying out at the most unexpected moment. Nobody expects cardinal replenishment of budgets in these cities.
(Excerpt) Read more at americanthinker.com ...
Any guesses on who will end up bailing them out?
so which cities were financially ok? I’d like to support the things that are working, maybe send some tourist dollars their way...
If the left has its way, a handful of cities will determine all political races up to presidency.
And THAT is how they will keep these cities afloat.
“Any guesses on who will end up bailing them out?”
Shall we all look in the mirror?
The cities with sound balance sheets are red cities in red states.
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