America’s Largest Cities Are Sinking…Under A Mountain of Debt – IOTW Report

America’s Largest Cities Are Sinking…Under A Mountain of Debt

Truth In Account (TIA) has looked at the financial situation of America’s largest metropolises and given them all failing grades.

 

Deepest in the hole is New York, with a current debt of $185.5 billion with another $156.4 billion in unfunded pension obligations. L.A. comes in a distant second in the free spend Olympics, owing $7.7 billion currently with unfunded pension obligations running around $50 billion.  Chicago rounds out the worst three by owing $42 billion but only having $9.5 billion to pay it off. More

12 Comments on America’s Largest Cities Are Sinking…Under A Mountain of Debt

  1. All the American big cities are becoming unlivable, some more than others. Between promising the moon to the deadbeats, the gridlock of traffic, crime, litter, unfunded liabilities for state pensions (i.e. teacher unions), what is there to like about them?

    it’s not what you earn, but what you keep — a truism that young people starting out should consider. Not to flock to the crime and debt-ridden cities for jobs, but to live more safely and prosperously in the smaller burgs.

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