Why U.S. Cities Are Going Broke
800,303
Published 2024-04-25
Correction (4/25/24): At 7:45 a previous version of this video incorrectly named the Mayor of Chicago. His name is Brandon Johnson.
Chapters:
0:00-01:01 Cold Open
01:10-04:45 Chapter 1: Spending
04:45-06:53 Chapter 2: Management
06:53-08:39 Chapter 3: Credit ratings
08:39-10:46 Chapter 4: Federal help
Produced and Edited by: Carlos Waters
Animation: Christina Locopo, Jason Reginato
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
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Why U.S. Cities Are Going Broke
All Comments (21)
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They don’t have a cash flow problem. They have a spending problem.
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The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
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Don't fret, the debt ceiling always goes up. I wonder if 2008 crisis survivors had it easier. I'm concerned about the stock market, I've lost $35,000 this month, and my income is down. Worried I won't save enough for retirement as I can't add to my savings.
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Opinions diverge; some claim overvaluation due to rapid gains, while others cite strong economic fundamentals justifying high valuations. Raises concern for my $600K equities going 8% up and 20% down. Should i hold on or sell off my positions and hold cash?.
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Politicians definitely are not broke
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Yet we had 95 billion to give Taiwan, Israel, and Ukraine...
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“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” – Abraham Lincoln, First Republican President
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Different viewpoints are emerging: some argue that rapid increases suggest overvaluation, while others point to robust economic fundamentals supporting high valuations. This situation is worrisome for my $600K equity, which has seen an 8% increase followed by a 20% decrease. Should I maintain my current positions or liquidate them to hold cash?
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Look who’s running those cities.
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ONE WORD: CORRUPTION
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The city may be broke but the ones who are in charge of it sure aren’t. Wonder why that is? 🤔
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I've been making a lot of losses trying to make a profitable trade. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advice me on what to do?.
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It's all debt. Anyone saying taxes are too high doesn't realize debt is already supporting their lifestyle more than they can imagine. Roads, water, sewer, basic infrastructure, is built, then needs maintenance, then needs replacing. It's funded by debt.
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New York acts like a kid with a 450 credit score trying to get approved for a Dodge Hellcat 😂
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nobody can afford stuff anymore. Everything 30% more expensive, but nobody got a 30% raise.
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95 billion to another country vs being spent in America
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Most cities take on debt with the assumption that growth will continue as it did in previous years. Boy were they wrong
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Because we keep fighting wars and funding other countries while neglecting ours….
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That's why taxes need to be spent more wisely. Unfortunately policy makers don't understand that.
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NY is full of billionaires and property prices skyrocketing, but politicians don't know how to fix the debt 😂
