Is New York City A Bankrupt Muni?
Bloomberg asked congress today for $9.8 billion to bail them out of their financial hole. There are about 8 million people
in New York City, so that works out to about $1000 for every man, woman and child. Except the money will all go to the government (Bloomberg and friends)
This comes on top of the $9.2 billion that FEMA (American taxpayers) and private insurance have already given them.
The truth is, New York City was already about $1.15 Billion in the hole before Sandy hit. This is even after they borrowed 1.13 billion in Muni Bonds on Oct 4th.
Does anyone else beside me find it appalling that we are being asked to bail out NY City (again) at the rate of 9 times their annual budget?
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