By Fergus Hodgson (The Epoch Times), includes “Oft-forgotten amid the COVID-19 chaos is that their fiscal crises predated the virus’s spread. According to Truth in Accounting (TIA), a nonprofit fiscal watchdog, 62 of the 75 largest U.S. cities were already in the red in 2019. … Some local governments disagree with the report’s inclusion of financial liabilities outside the operating budget. Sheila Weinberg, TIA founder and CEO, responds that all debts are relevant for policymaking.”
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