Mounting budget deficits threaten American cities

ABC’s Devin Dwyer reports on the cratering budgets of American cities during the pandemic and the deep spending cuts that may come.

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39 thoughts on “Mounting budget deficits threaten American cities

  1. $500 billion to bail out all the states, or $900 billion to allow a economic catastrophe to occur, with a small penance of $600 (per citizen) to soften the blow, you decide. Imagine all the state taxes doubled, you're payroll tax, sales tax, property tax, the taxes small businesses pay to the state; businesses will be crushed, citizens will be bankrupt. Then still needing to cut state programs; schools, police, fire departments, hospital assistant programs, plow trucks, infrastructure, welfare assistance, and more. People will be out of work, teachers, city or state workers, not to mention the moral catastrophe of not having enough money in unemployment for the people who's jobs will be cut. Not bailing out the state budgets of all 50 states will undoubtedly lead to a great depression, that only another additional stimulus could possibly prevent. We need to use this money intelligently, we can not keep borrowing money to give away for free to people like some sort of pseudo-lottery, we have a responsibility to ensure state and local budgets are balanced first, before we start giving people money that are employed, to businesses that are open, people already receiving unemployment benifits through their state, or nonsense spending to things unrelated to the covid pandemic; we need to demand that the government does more than just try too literally buy our votes, they need to actually govern responsibly.

  2. Reagan took the deficit from $70 billion to $175 billion. Bush 41 took it to $300 billion. Clinton got it to zero. Bush 43 took it from zero to
    $1.2 trillion. Obama halved it to $600 billion. Trump’s got it back to a trillion. See a pattern??

  3. So many of our cities are facing bankruptcy because of this virus. They have no income tax or any other sources of income coming in while they're spending money like crazy for PPE for their city employees, hand sanitizers and the way to distribute it

  4. Charles "Gristmill"Jones the first mayor of territorial Oklahoma City, is turning over in his grave.
    Gristmill grew up on a farm next to the Abraham Lincoln family farm in Illinois. Real men like him formed the Republican Party.

  5. Our representatives are trash. I hope yall vote for people who are willing to negotiate and act when the country needs it most. Im rooting for us!

  6. America was collapsing way before the pandemic this ihas been going on since 2008 it’s just been on life-support now they’ve taken The life-support away.. oddly enough America’s been putting people on life-support and afterwards they die I see it’s a sign..
    Of the End Of America..

  7. Can't wait until next month!!!! All of the Cares Act money runs out for businesses at the end of this month. Lots of people are going to be losing their jobs!

  8. The republicans are okay with big corporation tax cut that increased the budget deficit while withholding state funding that help the state reduce the deficit? What a shame

  9. BLM is going to be pissed when programs designed for minorities are discontinued. But hey, Trump will deescalate the situation, I'm sure.

  10. DONT GET ARRESTED in Paradise! Kailua Kona HAWAII Jail = NO MASKS 6
    Officers 8 Inmates ( Only 2 Guards & Nurse WORE ) 8 inmates shuttled
    to courthouse only then given masks to wear before
    hearing!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  11. Wow….so six months of lockdowns and your entire economy caves in… Sounds like we have a bigger problem than we think if we can't make it six months

  12. All this, over a cold virus, that kills less people than the flu virus.
    This was ALL done by leftist Democrats, for the purpose of taking out a sitting President and destroying the booming economy he had built. Prove me wrong!

  13. Please cite your data for Jacksonville FL. What's stated in this story is the polar opposite of what can be found in the latest budget release from COJ.

  14. To give money to the state and local governments … Trump would need to PRINT MONEY … would Americans like the cost of living to increase by around 20% overnight … it costs you $100 in groceries today, $120 tomorrow … are you okay with that?

  15. Exactly how is Covid 19 causing budget deficits in US cities? I don't get it. Give me a list of things they are spending money on that has gone up. Let's break this down, like accountants. What revenue aren't they getting? What do they pay to health care workers?
    Hospital workers and doctors have their own incomes.
    Fire and Police are a normal part of their expenditures. List what additional money has been given to them.
    School Districts are also on a fixed income. List the additional money given to them.
    Could this money actually be going to pay for the cost of the rioters? They need to find that is their hope chest. Don't even ask.

  16. Raising taxes is just going to cause more people to go into poverty. Working class people are barely making it now. How many will end up being poor and loosing their homes because they can’t pay their taxes. How about elderly on fixed income, how they going to pay more taxes? Time for companies and rich to pay more in taxes. They have been getting tax breaks for years with trickledown economics

  17. The left shuts down businesses then wonders why cities are going bankrupt. This is why we should NEVER listen to democrats when it comes to matters of the economy.

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