New York City must cut down on capital projects and employee benefits to emerge from its $252 billion debt hole, according to a new controversial report. Citizen’s Budget Commission, a fiscally conservative think tank, found that the city has been unable to capitalize on a boom in tax revenue and a strong economy to emerge from its debt, leaving it exposed in the event of a future downturn in the economy, according to Crain’s. The […]
source https://therealdeal.com/2018/09/19/one-way-for-new-york-city-to-get-out-of-252-5-billion-debt-stop-most-construction-projects/
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