New York Nears Financial Ruin as Debt Balloons Over $80,000 per Household

As public spending and debt levels in New York rise its wealthy and businesses leave, sick of high taxes. New York sits on the edge of bankruptcy. Experts warn that further exits or a national recession could push the city over the edge into all-out financial ruin. High Debt, High Tax, and High Spending…and Taxpayers are Running Citing economic experts, the New York Post report puts long-term debt at an average of $81,100 per household. New York City and the wider state of New York are top of the list for US tax burdens. The city’s mayor plans to spend

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