"Moody’s Ratings has revised New York City’s credit rating to “negative” from “stable,” because of “sizable and persistent projected budget gaps” related to higher spending projections.
The city is being forced to raid reserves and pension funds in order to pay for spending. These short term fixes cannot be repeated in future years."
https://x.com/WallStreetMav/status/2031953978162864509
https://nitter.poast.org/WallStreetMav/status/20319539781…