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New York, NY (77WABC) – The Coronavirus pandemic has the City of New York bleeding financially and according to Yankees President and former NYC Deputy Mayor Randy Levine, he’s suggesting the city may go bankrupt if the change isn’t made soon!
Levine making the stark comments during an exclusive interview with 77WABC Owner and host of The Cat’s Roundtable John Catsimatidis on his Sunday morning WABC 770AM radio show.
Randy Levine saying, “because of the pandemic, because what happened here, the fiscal situation in the city is really, really bleak. It hasn’t gotten the attention it deserves.”
State and city governments across America have pleaded with the federal government for help – since the start of the pandemic back in March. Local and State governments were not included in any of the two financial stimulus packages passed by congress.
Levine, on Sunday morning, on The Cat’s Roundtable, says “if this city is not on good financial footing, then nothing else can happen.”
You can listen to the EXCLUSIVE interview on The Cat’s Roundtable HERE: https://wabcradio.com/episode/randy-levine-12-6-20/
According to an article written by The Hill, Mayor DeBlasio has warned his administration would have to make “extremely difficult choices” in cutting city jobs if additional help from the Federal Government doesn’t come soon.
Levine also discussed the extraordinary financial grip small businesses, the private sector, and real estate markets in the city have taken, due to the pandemic.
“If you don’t fix [the budget] you’ll have no city services,” he added. “If we have a city that goes bankrupt, then there’s going to be chaos.”
Right now, the news is buzzing out of Capitol Hill about a proposed $908 billion dollar COVID-19 rescue plan, which is allegedly garnering support by both Republican and Democratic members. As both sides are still working on hammering out final details, published reports have stated this new stimulus package could include an additional $160 Billion in aid to state and local governments.
