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Officials Battle Over Budget
New York City nears inability to pay bills as a long budget battle pits Mayor Beame against Comptroller Goldin. The 1974 75 crisis featured record high interest rates, mass layoffs, and the creation of MAC to avert default, with later revelations of a hidden deficit and mounting debt.
MENTIONED IN THIS ARTICLE
New York City
Lee Mitgang
New York
Abraham D. Beame
John V. Lindsay
Harrison J. Goldin
Beame
Goldin-Beame
Goldin
Arthur Levitt
Goldin-Beamerift
Patrolmen’s Benevolent Assn
State Urban Development Corp
Ford
Washington
Hugh Carey
Big Mac
Municipal Assistance Corp
MAC
Standard & Poor