THE CHEKING PROCESS – The paralysis of activity caused by the Covid-19 pandemic has resulted in a drop in the city’s tax revenues. Does the “Big Apple” face imminent financial peril?
THE QUESTION. «New York is on the verge of bankruptcy“. This assertion has been circulating for several weeks in the American media. The Covid-19 pandemic which paralyzed the city’s economy in March led to a collapse in its tax revenues while the mayor, Democrat, Bill de Blasio, had multiplied the promises of high spending. The mayor has until the end of September to present to a budget oversight body, the FCB, a plan of at least $ 1 billion in savings to balance the current budget which is coming to an end. June 30, 2021.
Bill de Blasio, a figure on the left of his party, struggles to convince even the Democratic Governor of New York State, Andrew Cuomo, to come to his aid. The mayor who has flaunted his hatred of New Yorker Donald Trump for years is also not ready to obtain financial aid from the federal administration. This is reminiscent of 1975, when President Gerald Ford left New Yorkers,
