Cities Face Fiscal Turmoil

Whalen, Robert
March 2006
Bond Buyer;3/6/2006, Vol. 355 Issue 32332, p31
Trade Publication
The article reports that many cities in New York State face very difficult financial challenges that could result into severe fiscal stress if negative economic trends continue. The major causes of financial stress include excessive debt, limited taxing ability and spending that outpaces revenue. The financial condition of four largest cities, Buffalo, Rochester, Syracuse and Yonkers, is getting worse.


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