Building A New America With Jonathan Arias.

As a result of the economic damage caused by COVID-19, New York City is facing a budget deficit of about $9B for the current fiscal year and a similar deficit in subsequent years.  Some commenters say that this is the most significant fiscal crisis we’ve faced since 1975, even factoring in the 2008 Great Recession.  For obvious reasons – because we’re in a global pandemic – the circumstances from 1975 are different, but there are still many similarities between 2020 and 1975.  For example:The City has begun to make significant cuts to city servicesPeople are out of work, and unemployment is at record levels In a press conference addressing the current gap, the Mayor raised the possibility of borrowing funds to cover operating expenses;Crime is supposedly risingThe president has scapegoated New York City for the problems caused by COVID; andFederal Senators have suggested that New York should go bankrupt.The importance of knowing history is what to avoid.  So in this episode, we are going to gain political, so