I read a recent article dated January 29, 2020 that 63 of some of the largest cities are in debt by a total of 330 billion dollars. This was before the Coronavirus outbreak. For example, before the virus, each taxpayer would have to pay over $63,000 to clear the municipal debt for New York City. How are these cities going to pay their bills and survive with so much revenue lost due to the virus? Will these cities make a rebound or is it the death of them?

It's probably going to be the death. Just my 2 cents.

They better survive, I dont want all those folks moving out here to Gods Country.

Governor Cuomo's handling of the virus was terrible. Shutting everything down has destroyed businesses and NY's economy. NYC may never recover.

Cities can declare bankruptcy. San Bernadino CA already has, as well as another city in CA. States can't file bankruptcy, but I'm sure a new term will be invented to get them cleared from their debt. Cali, OR, WASH, CO, NEV to name a few already with their hands out.

I wonder between cities, states and the feds how much is this country in debt? Throw in personal debt and one might think things look a little shaky

Very simple answer to the above postulation. Pelosi's $3,000,000,000,000.00 (read that trillion) bill currently passed by the House, will offer a Federal bailout for cities that have been overspending, with politicians pandering to their voting base and consequently are in big debt! This means that all of us fly over country bumpkins will have our Federal taxes bail out the very people we don't regard as our friends, Anti- trapping/ hunting /2nd amendment hating, Starbuck swigging, pencil necks that don't want to teach their children much of any useful thing, like which bathroom to use. All this cash wasted under the guise of Covid-19 assistance. (Enough of today's rant, I just figured what my quarterly taxes are).

Yet many still want to give handouts to illegals so yes they are doomed. IMO

They will keep on keepin on. The government will just keep printing and funding like always.

Comparison of State and Local Government Spending
in the United States
-5yr -1yr Fiscal Year 2020 +1yr +5yr
Amounts in $ billion


State
State
Debt
Local
Debt
State and
Local
Debt
Gross
State
Product
Real
State
Growth
Popu-
lation
(mln)


Alabama
$11.5
$28.2
$39.8
$239.5
1.5%
4.9
more

Alaska
$6.0
$3.6
$9.5
$56.5
1.7%
0.7
more

Arizona
$13.1
$30.0
$43.1
$381.8
2.0%
7.4
more

Arkansas
$7.8
$16.2
$24.0
$137.7
1.2%
3.0
more

California
$143.4
$295.5
$438.9
$3,262.4
1.7%
39.6
more

Colorado
$19.5
$46.2
$65.7
$406.6
2.3%
5.8
more

Connecticut
$43.2
$12.5
$55.7
$295.2
1.1%
3.6
more

Delaware
$6.0
$3.3
$9.3
$77.5
0.7%
1.0
more

District of Columbia
$0.0
$16.1
$16.1
$151.4
1.1%
0.7
more

Florida
$26.2
$96.2
$122.4
$1,140.5
1.8%
21.7
more

Georgia
$13.9
$47.8
$61.7
$638.7
1.3%
10.7
more

Hawaii
$10.3
$6.8
$17.1
$100.6
0.8%
1.4
more

Idaho
$3.6
$2.9
$6.5
$84.3
1.8%
1.8
more

Illinois
$77.5
$116.0
$193.5
$927.6
1.1%
12.6
more

Indiana
$22.6
$26.9
$49.5
$388.0
0.7%
6.8
more

Iowa
$6.6
$14.1
$20.6
$200.3
0.7%
3.2
more

Kansas
$5.5
$15.1
$20.5
$178.2
0.7%
2.9
more

Kentucky
$15.1
$31.9
$47.1
$221.3
0.8%
4.5
more

Louisiana
$18.6
$18.7
$37.4
$271.1
0.9%
4.6
more

Maine
$4.8
$3.2
$8.0
$70.0
1.3%
1.3
more

Maryland
$28.5
$26.8
$55.3
$443.2
1.1%
6.1
more

Massachusetts
$82.4
$21.8
$104.2
$619.0
1.6%
6.9
more

Michigan
$34.2
$39.5
$73.7
$557.0
0.6%
10.0
more

Minnesota
$17.2
$38.6
$55.9
$392.8
1.0%
5.7
more

Mississippi
$7.0
$6.7
$13.7
$122.6
1.0%
3.0
more

Missouri
$17.3
$26.9
$44.2
$344.2
1.4%
6.2
more

Montana
$2.7
$2.4
$5.1
$53.9
1.4%
1.1
more

Nebraska
$2.2
$14.9
$17.1
$130.4
0.5%
1.9
more

Nevada
$3.8
$28.1
$31.9
$184.9
1.9%
3.1
more

New Hampshire
$7.9
$2.7
$10.6
$92.2
1.8%
1.4
more

New Jersey
$66.0
$32.1
$98.1
$666.7
1.0%
8.9
more

New Mexico
$7.7
$9.6
$17.3
$107.5
2.4%
2.1
more

New York
$164.2
$247.0
$411.2
$1,791.7
1.2%
19.4
more

North Carolina
$14.2
$27.0
$41.1
$609.7
1.5%
10.6
more

North Dakota
$3.3
$5.9
$9.3
$58.3
1.5%
0.8
more

Ohio
$29.2
$47.2
$76.4
$720.8
1.2%
11.7
more

Oklahoma
$9.8
$11.9
$21.7
$210.7
1.6%
4.0
more

Oregon
$16.2
$28.2
$44.4
$262.0
1.8%
4.3
more

Pennsylvania
$52.4
$83.3
$135.7
$842.1
1.5%
12.8
more

Rhode Island
$9.5
$2.8
$12.3
$66.2
1.7%
1.1
more

South Carolina
$13.3
$20.1
$33.4
$257.1
2.0%
5.2
more

South Dakota
$4.1
$3.2
$7.3
$54.7
0.6%
0.9
more

Tennessee
$6.8
$41.7
$48.5
$394.7
1.5%
6.9
more

Texas
$53.5
$248.6
$302.1
$1,962.4
2.8%
29.4
more

All states combined
$1,223.7
$2,020.6
$3,244.3
$22,210.9
1.5%
330.6
more

Utah
$7.4
$13.2
$20.6
$197.3
2.4%
3.3
more

Vermont
$3.7
$1.3
$5.1
$36.2
1.6%
0.6
more

Virginia
$31.5
$43.1
$74.6
$574.1
1.3%
8.6
more

Washington
$35.6
$58.6
$94.2
$628.3
2.4%
7.7
more

West Virginia
$10.1
$5.0
$15.1
$79.6
0.7%
1.8
more

Wisconsin
$22.5
$22.4
$44.9
$358.3
1.0%
5.8
more

Wyoming
$0.9
$1.5
$2.4
$40.5
2.1%
0.6

US corporations are sitting on nearly $10 trillion in debt. That's equivalent to roughly 47% of the overall economy, a record, according to data cited by The Washington Post.

Consumer debt hits new record of $14.3 trillion

Hopefully not.

You can sure pick out the states that are liberal run, on that list. They are like a crazy woman that keeps writing checks long after the well went dry. There are a lot more that have drank the poison kool aid. Monkey see....monkey do. This country is toast, and you can thank pelosi and shumer, and we all know, no one will make them answer for it!

Metro areas have survived and grew during every economic swing we have had and in my opinion will do well on the backside of our current economic downturn. Debt is an issue but not so much if you can gain liquidity which urban and suburban areas can do, There has been a migration from rural to urban for a century. Follow the money. rural areas today just don't have the man power to attract larger employers who need long term well trained workers. The rural areas now are dependent upon undocumented workers in many areas and the rural population is aging faster than the non rural areas. It costs way more per capita to do infrastructure to rural areas even with lower costs of living. Wages in general are not attractive to draw labor, more likely to detract and continue see younger people leaving.

Bryce

Ever notice witch party is in charge of the most screwed up places?

You guys are missing the point. I live in a above average sized urban area. YOU don't want all of these idiots moving out of the cities. They will wreck your way of life. Bunch of libby d@^!&* bags.

You make a good point, swatter. You can keep them!

Some on here think by continuing to make money appear out of the sky it will be business as usual as soon as the country "opens up."