Why U.S. Cities Are Going Broke
877,819
Published 2024-04-25
Correction (4/25/24): At 7:45 a previous version of this video incorrectly named the Mayor of Chicago. His name is Brandon Johnson.
Chapters:
0:00-01:01 Cold Open
01:10-04:45 Chapter 1: Spending
04:45-06:53 Chapter 2: Management
06:53-08:39 Chapter 3: Credit ratings
08:39-10:46 Chapter 4: Federal help
Produced and Edited by: Carlos Waters
Animation: Christina Locopo, Jason Reginato
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images
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Why U.S. Cities Are Going Broke
All Comments (21)
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More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
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They don’t have a cash flow problem. They have a spending problem.
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I have savings of $1,000,000 and I'm ready for retirement, only concerned about the soaring inflation. Is this enough to retire comfortably, or do I need some sort of money management?
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A fellow retiree like myself was in a mortgage situation years back Thankfully after consulting with a financial planner he was able to sort it through income from a $25,000 initial investments. Since then the importance of investing cannot be over emphasised.
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Yet we had 95 billion to give Taiwan, Israel, and Ukraine...
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The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
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The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than 25,000 a year.
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Politicians definitely are not broke
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The city may be broke but the ones who are in charge of it sure aren’t. Wonder why that is? 🤔
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“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” – Abraham Lincoln, First Republican President
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Most cities take on debt with the assumption that growth will continue as it did in previous years.
Boy were they wrong -
ONE WORD: CORRUPTION
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nobody can afford stuff anymore. Everything 30% more expensive, but nobody got a 30% raise.
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NY is full of billionaires and property prices skyrocketing, but politicians don't know how to fix the debt 😂
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New York acts like a kid with a 450 credit score trying to get approved for a Dodge Hellcat 😂
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It's all debt. Anyone saying taxes are too high doesn't realize debt is already supporting their lifestyle more than they can imagine. Roads, water, sewer, basic infrastructure, is built, then needs maintenance, then needs replacing. It's funded by debt.
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I've been making a lot of losses trying to make a profitable trade. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advice me on what to do?.
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95 billion to another country vs being spent in America
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Look who’s running those cities.
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That's why taxes need to be spent more wisely. Unfortunately policy makers don't understand that.
