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New York City Faces Cash Crunch Threatening Services
New York City confronts a severe cash shortfall as officials say the city needs 1.5 billion to meet expenses through June and avoid default. Mayor Beame and Gov. Carey pressed President Ford for help while Ford and Federal Reserve Chair Volcker say federal aid won’t bail out the city.
MENTIONED IN THIS ARTICLE
New York
New York City
Ford
Federal Reserve Board
Arthur F. Burts
Burns
White House
Abraham Beame
Albany
N.Y
Washington
Beame
Hugh Carey
Treasury
William E. Simon