"The change also came because Ford was heading into an election year, and there was a tremendous amount of political pressure on him to keep the nation's largest city solvent. New York is the economic capital of the world; if the city lacks the capital to fund its police, fire, mass transit, hospitals, schools and other critical operations, physical ruin would soon follow, followed by economic collapse on a much larger scale than the city itself."
"Donald Trump has repeatedly tried to defund New York City this year its transit system, its schools, its police force, and more to advance his agenda. He is rattling the economic saber with the mayor's race coming up, threatening to make further cuts to New York if they elect one candidate over another. In a democracy, the people have the final say."
Gerald Ford initially rejected New York City's request for an emergency loan, arguing the city should not be rewarded for poor fiscal management and that potential failure would be a lasting lesson. He reversed the decision within weeks, agreeing to federal loans conditioned on improved fiscal practices amid election-year political pressure and concerns about wider economic fallout. The federal support aimed to preserve police, fire, transit, hospitals, schools and other essential services to prevent broader economic collapse. The piece contrasts that episode with recent efforts to withhold funding, noting political threats tied to the mayoral race and reminding that voters decide outcomes.
Read at www.amny.com
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