NYC needs a budget plan before borrowing a dime ...Middle East

Deficit borrowing. For those who watch New York City finances, these words recall the city’s toughest moments. The 1970s financial crisis. The aftermath of the Sept. 11 attacks. Now, in the midst of a devastating pandemic, the city has requested $5 billion in long-term borrowing authority to fund operations. Given the current circumstances, some argue, such a bridge to more normal economic times is necessary, even wise.

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