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New York City Financial Crisis Sparks Wider Urban Fears
An Associated Press study shows fear that a New York City default could trigger a national pattern of rising borrowing costs for other metropolitan areas. Cities like Pittsburgh and Chicago face high per capita debt, while New York’s rating remains suspended. Federal officials warn the spillover could slow economic recovery and affect public services, with Cleveland Philadelphia Boston and Buffalo among cities at risk.
MENTIONED IN THIS ARTICLE
Associated. Press
New York City
Lnt
Rother
New ‘York
Sid Frank
William i ‘Tough & Co
Petersburg
Ford Administration
New York
Associated Press
Vlost
Standard & Poor
New’ York City
Louise Cook
Lee Mil
Gang
Michael Snitfen
Chicago
Dell
Standard | Poor's
Pillsburgh
Ram Standard & Poor's
Stamford & Poor
Pittsburgh
Tax Foundation Inc
Detroit
Cleveland
Louis
Philadelphia
Bullarest
N.Y
York
Byeryone
Focal
Henry] G. Simons
New Orleans
Federal Reserve Board
Artur Burns
East
New
Buffalo
Lebenthal
Lincoln
Boston
Columbus
Neb
Ohio