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The big question: Can states and cities recover from Covid?

September 16, 2020

Interview of Richard Ravitch and Antonio Weiss by Brian Chapatta, includes “… Ravitch: ‘The size of the revenue loss is such that borrowing is a temporary stopgap. You can’t encumber cities and states with a massive amount of new debt, which will have to be repaid at a point in time where cities are recovering and should be devoting resources to help all the people who have suffered so egregiously for health reasons and unemployment reasons. Therefore we’re totally dependent on what Washington does.’ …” 

Read the full article on: Bloomberg

 
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