Why U.S. Cities Are Going Broke
852,408
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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They don’t have a cash flow problem. They have a spending problem.
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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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is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?
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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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ONE WORD: CORRUPTION
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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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The 1% of rich Americans think of how to invest their money to increase their wealth during the recession. While the 99% of struggling hard-luck Americans think of how to survive without food and daily necessities in the recession and the coming hyperinflation. I am just about to make my first index fund purchase via vanguard. I intend to invest long term. just getting slightly stuck on how I balance my percentage portfolio between equity vs bonds. Low risk is good for me. Any tips
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Yet we had 95 billion to give Taiwan, Israel, and Ukraine...
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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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nobody can afford stuff anymore. Everything 30% more expensive, but nobody got a 30% raise.
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One thing you will never hear from something like this is how those cities are also destroying their revenue by driving small businesses away.
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Look who’s running those cities.
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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
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95 billion to another country vs being spent in America
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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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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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New York acts like a kid with a 450 credit score trying to get approved for a Dodge Hellcat 😂
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This migrant situation is out of control.
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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?.
