3 ms·
I don't think cities can run a deficit. They would have to pass tax increases to fund that, which would be unpopular.
by curryst 6y ago
I don't think cities can run a deficit. They would have to pass tax increases to fund that, which would be unpopular.
- yonig 6y agoHello from Chicago
- chrisseaton 6y ago> I don't think cities can run a deficit. Lol
- smnrchrds 6y agoIn Alberta (and perhaps elsewhere in Canada), cities are legally not allowed to run deficits.
- chrisseaton 6y agoNew York City is running a budget deficit of $5,250,000,000.
- mark212 6y agoYou’re right for cities and counties (and the state itself) in California. None are allowed to operate at a deficit, hence the creation of the state “rainy day fund” by Gov. Brown after the 2008 recession which has worked very well in tempering the current fiscal issues in the Covid pandemic, at least at the state level.
- zamfi 6y ago> They would have to pass tax increases to fund that Or reallocate money previously allocated to libraries, social workers, community colleges, public transportation, etc. etc.
- pavel_lishin 6y agoAny reason they wouldn't move the budget away from other services?