New York City and the state of New York have faced a life-or-death crisis before. In 1975, budget practices ranging from the unwise to outright crazy combined with a national recession to bring New York City, and with it the state and all the state’s public authorities, to the edge of disaster.
New York City and the state of New York have faced a life-or-death crisis before. In 1975, budget practices ranging from the unwise to outright crazy combined with a national recession to bring New York City, and with it the state and all the state’s public authorities, to the edge of disaster.
