#fiscal outlook

#fiscal outlook

The United States is projected to add nearly $19 trillion to its national debt over the next decade due to factors like an aging population and higher interest expenses.

Legislation to curb federal spending and a growing economy are helping to reduce the projected annual deficits over the next decade. [ more ]

Mayor Eric Adams is planning to implement budget cuts that could further diminish city services.

The mayor is being cautious about the city's fiscal outlook due to uncertainty in tax revenues and the expiration of federal aid.

The proposed budget cuts are likely to impact the lowest-income New Yorkers who rely on these services the most. [ more ]