{"id":395114,"date":"2019-02-04T12:32:11","date_gmt":"2019-02-04T11:32:11","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/63-of-americas-largest-75-cities-are-completely-broke\/"},"modified":"2019-02-04T12:32:11","modified_gmt":"2019-02-04T11:32:11","slug":"63-of-americas-largest-75-cities-are-completely-broke","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/newswire\/63-of-americas-largest-75-cities-are-completely-broke\/","title":{"rendered":"63 Of America\u2019s Largest 75 Cities Are COMPLETELY BROKE"},"content":{"rendered":"<div>\n<p>      <!-- START CONTENT --><\/p>\n<p><strong>Mac Slavo<\/strong><br \/><a href=\"http:\/\/www.shtfplan.com\/headline-news\/apocalyptic-debt-crisis-in-america-63-of-americas-largest-75-cities-are-completely-broke_01312019\">SHTFplan.com<\/a><br \/>February 1, 2019<\/p>\n<p><strong>The debt crisis in the United States of America has reached apocalyptic proportions.\u00a0 A new and horrifying report out details the reason why 63 of America\u2019s largest cities are completely\u00a0broke: debt and overspending.<\/strong><\/p>\n<p>According to a recent analysis of the 75 most populous cities in the United States, 63 of them can\u2019t pay their bills and the total amount of unfunded debt among them is nearly $330 billion. <strong>Most of the debt is due to unfunded retiree benefits such as pension and health care costs.\u00a0 That means those depending on that money, likely won\u2019t see a dime of it.\u00a0<\/strong><\/p>\n<p>\u201cThis year, pension debt accounts for $189.1 billion, and other post-employment benefits (OPEB) \u2013 mainly retiree health care liabilities \u2013 totaled $139.2 billion,\u201d the third annual \u201c<strong><a href=\"https:\/\/www.truthinaccounting.org\/library\/doclib\/2019-Financial-State-of-the-Cities-.pdf\" target=\"_blank\" rel=\"noopener\">Financial State of the Cities<\/a><\/strong>\u201d report produced by the Chicago-based research organization, <a href=\"https:\/\/www.truthinaccounting.org\/\" target=\"_blank\" rel=\"noopener\">Truth in Accounting (TIA), states<\/a>.\u00a0TIA is a nonprofit, politically unaffiliated organization composed of business, community, and academic leaders interested in improving government financial reporting.<\/p>\n<p>\u201c<strong>Many state and local governments are not in good shape, despite the economic and financial market recovery since 2009,\u201d<\/strong> Bill Bergman, director of research at TIA, told\u00a0<a href=\"http:\/\/watchdog.org\/\" target=\"_blank\" rel=\"noopener\">Watchdog.org<\/a>.<\/p>\n<p>The top five cities in the worst financial shape are New York City, Chicago, Philadelphia, Honolulu, and San Francisco. These cities, in addition to Dallas, Oakland, and Portland, all received \u201cF\u201d grades.\u00a0In New York City, for example, only $4.7 billion has been set aside to fund $100.6 billion of promised retiree health care benefits. In Philadelphia, every taxpayer would have to pay $27,900 to cover the city\u2019s debt. In San Francisco, it would cost $22,600 per taxpayer.<\/p>\n<blockquote>\n<p>By the end of Fiscal Year 2017, 63 cities did not have enough money to pay all of their bills, the report states, meaning debts outweigh&#8230;<\/p>\n<\/blockquote>\n<\/div>\n<p><a href=\"https:\/\/www.prisonplanet.com\/apocalyptic-debt-crisis-in-america-63-of-americas-largest-75-cities-are-completely-broke.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mac SlavoSHTFplan.comFebruary 1, 2019 The debt crisis in the United States of America has reached apocalyptic proportions.\u00a0 A new and horrifying report out details the reason why 63 of America\u2019s largest cities are completely\u00a0broke: debt and overspending. According to a recent analysis of the 75 most populous cities in the United States, 63 of them [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-395114","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/395114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=395114"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/395114\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=395114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=395114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=395114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}