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City on the brink budget crisis in New York City
A focused summary of the 1970s New York City budget battles with Mayor Beame and City Comptroller Goldin, detailing deficits, bond crises, MAC intervention, mass layoffs, union actions, and the threat of default as Washington withholds aid. Key figures include Beame Goldin Levitt Carey Shanker and institutions like MAC and Standard & Poor's. The piece traces the path to December risk.
MENTIONED IN THIS ARTICLE
New York City
Lee Mitgang
New York
Abraham D. Beame
Long
John V. Lindsay
Harrison J. Goldin
Beame
Goldin
Arthur Levitt
Goldin-Beamerift
Patrolmen’s Benevolent Association
PBA
Wall Street
State Urban Development Corp
Standard & Poor
Bond Rating Service
Ford
Washington
Hugh Carey
Big Mac
Municipal Assistance Corp
MAC
Standard & Poor's
Carey
State
Staten Island
Belgrade
Yugoslavia
Albert Shanker
Shanker