New York City’s Debt Amounts to $71,400 Per Taxpayer
Includes: “New York City is in trouble. A new report by Truth In Accounting, a nonpartisan nonprofit that specializes in government transparency, shows that New York City has $204.4 billion in debt—$71,400 per taxpayer. This means that each taxpayer would have to pay $71,400 in future taxes without receiving any related services or benefits."
READ MOREWatchdog Group Calls BS on Philly’s Budget Numbers
Includes: "While these cities may appear to have balanced their books, the reality is very different, says TIA founder Sheila Weinberg. 'They have surpluses and seem to be in good shape. But it is misleading; they are ignoring their debts,' Weinberg told Delaware Valley Journal. 'It’s a little like saying, ‘well, you got plenty of cash in your pockets but just ignore those big credit card debts you have in your back pockets.’”
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