New York City is edging toward financial disaster, experts warn


New York is reverting to its old ways. Those ways were not economically sound.

(From The New York Post)

New York City is careening closer to all-out financial bankruptcy for the first time since Mayor Abraham Beame ran the city more than 40 years ago, experts say.

As tax-fleeced businesses and individuals flee en masse, and city public spending surges into the stratosphere, financial analysts say Gotham is perilously near total fiscal disaster.

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