Write For Us

Why U.S. Cities Are Going Broke

Sponsored Post Vitamin D2 Canada Persia
28 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
Spending cuts are abound in many U.S. cities as inflation lingers and pandemic-era stimulus dries up. At least 53 major cities have debt obligations that outstrip their assets, according to an estimate from Truth in Accounting. The group estimates higher debt burdens than many public officials report, due to allegedly underreported retiree benefits. The rising public debt may potentially leave future generations on the hook for financial decisions made by today's leaders.

Correction (4/25/24): At 7:45 a previous version of this video incorrectly named the Mayor of Chicago. His name is Brandon Johnson.

Chapters:
0:00-01:01 Cold Open
01:10-04:45 Chapter 1: Spending
04:45-06:53 Chapter 2: Management
06:53-08:39 Chapter 3: Credit ratings
08:39-10:46 Chapter 4: Federal help

Produced and Edited by: Carlos Waters
Animation: Christina Locopo, Jason Reginato
Supervising Producer: Lindsey Jacobson
Additional Footage: Getty Images

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Want to make extra money outside of your day job? Take CNBC’s new online course How to Earn Passive Income Online to learn about common passive income streams. Register today: https://cnb.cx/3Iwblnk

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC on Threads: https://cnb.cx/threads
Follow CNBC News on X: https://cnb.cx/FollowCNBC

#CNBC

Why U.S. Cities Are Going Broke
Category
Tech
Tags
Municipal debt, cities, United States
Sign in or sign up to post comments.
Be the first to comment