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www.bloomberg.com › news › articles › 2023-05-15 › nyc-budget-deficits-forecast-to-be-bigger-than-mayor-s-estimate
NYC Budget Deficits Forecast to Be Bigger Than Mayor's Estimate
May 15, 2023The largest US city faces a $5.8 billion deficit in the fiscal year beginning July 1, 2024, or $1.6 billion more than Mayor Eric Adams projected in his April executive budget, the...

state is not federal, cannot roll over,
to default on some expenditure is inevitable.
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