The federally inspired fiscal crisis

The federally inspired fiscal crisis

THE BANKRUPTCY FACING NEW YORK CITY STEMS ENORMOUSLY FROM INCREASED POWER OF THE PUBLIC SERVICE UNIONS, AS WELL AS INCREASED LEVERAGE OF THE LOWER CLASSES. FUNDS FOR EXPANDED PUBLIC SECTOR EMPLOYMENT WERE PARTLY OFFSET BY NEW TAXES, AMONG THE HIGHEST IN THE COUNTRY. THE NECESSARY ADDITIONAL FUNDS CA...

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Veröffentlicht in:Society (New Brunswick) 1976-05, Vol.13 (4), p.27-32
Hauptverfasser: Fainstein, Susan S., Fainstein, Norman I.
Format: Artikel
Sprache:eng
Schlagworte:
CITIES, TOWNS, VILLAGES
ECONOMICS
EMPLOYMENT
FINANCIAL SERVICE, BANKS, INSURANCE SYSTEMS, SECURITIES, EXCHANGES
LABOR UNIONS (BUT NOT GUILDS)
LOCAL GOVERNMENT
NEW YORK CITY
PUBLIC ADMINISTRATION
PUBLIC SERVICE
TAXING, TAXATION
URBAN PROBLEMS
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Beschreibung
Zusammenfassung:THE BANKRUPTCY FACING NEW YORK CITY STEMS ENORMOUSLY FROM INCREASED POWER OF THE PUBLIC SERVICE UNIONS, AS WELL AS INCREASED LEVERAGE OF THE LOWER CLASSES. FUNDS FOR EXPANDED PUBLIC SECTOR EMPLOYMENT WERE PARTLY OFFSET BY NEW TAXES, AMONG THE HIGHEST IN THE COUNTRY. THE NECESSARY ADDITIONAL FUNDS CAME FROM LARGE AMOUNTS OF SHORT-TERM NOTES, WHICH MORTGAGED THE CITY'S FUTURE SETTING UP THE CRISIS.
ISSN:0147-2011
1936-4725
DOI:10.1007/BF02734806