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A fiscal crisis is looming for many US cities

Summary by Penn Live

Small cities with low budgets are particularly vulnerable. But so are larger, more affluent cities, such as San Francisco with its collapsing downtown office market, or Houston, New York and Miami, which face growing costs from climate change.

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Penn Live

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mecktimes.com

A fiscal crisis is looming for many US cities

2 days ago·Harrisburg, United States

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WirePoints Illinois Financial News

A fiscal crisis is looming for many U.S. cities – The Conversation

"For example, Chicago currently faces a budget deficit of nearly $1 billion, which stems partly from underfunded retirement benefits for nearly 30,000 public employees. The city has $35 billion in unfunded pension liabilities and almost $2 billion in unfunded retiree health benefits. Chicago’s teachers are owed $14 billion in unfunded benefits."

3 days ago

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naked capitalism

A Fiscal Crisis Is Looming for Many US Cities

US cities, which enjoyed a renaissance after the flight of the 60s and 70s reversed, now face a world of budget hurt.

3 days ago

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Finance & Commerce

Financial crisis looming for many U.S. cities

This is a looming nationwide threat, driven by factors that include climate change, declining downtown activity, loss of federal funds and large pension and retirement commitments.

4 days ago

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