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The financial collapse of the Democratic mayors
Recently, non-government organization Truth in Accounting published a report about the financial condition of the 75 largest cities of America. As it turns out, 63 out of 75 cities in America were not able to pay bills at the end of the fiscal year of 2017.
The final result of this study was the calculation of the burden borne by taxpayers in these American cities. The formula is simple: the financial balance of the city (positive or negative) is divided by the number of inhabitants. The result is a good assessment of how effectively the city authorities work, depending on the positive or negative financial balance of the city per capita.