Unsustainable Spending: 10 U.S. Cities on the Brink of Bankruptcy

April 16, 2024

Fifty of the country’s 75 largest cities are in a substantial deficit, according to Truth in Accounting’s recent Financial State of the Cities report. Carrying high debt can be fiscally risky, putting city employees’ pensions and health care benefits at risk. Is your hometown on the list? Read on to find out. 

The largest city in the United States also has the most significant debt. In 2021, the city had $171.5 billion in debt. However, when comparing data from 2017, the city’s debt has shrunk by 11%. Yet, if the debt were to be spread out among New York taxpayers, $56,900 would be added to each New Yorker’s financial load. 

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