Big city and state budgets are significantly overspending, putting NYC in danger, according to a fiscal watchdog: ‘not affordable and unready’
A recent report from the Fiscal Watchdog Group proclaimed that both urban and state budgets are “uncontrollable and unprepared,” especially with a potential recession on the horizon and upcoming federal cuts. The Citizens’ Budget Committee has suggested eliminating Governor Kathy Hochul’s $2 billion “Inflation Reduction Check,” which is set to be part of next year’s […]
Second Largest School District in the U.S. Faces Financial Crisis After Extended Period of Overspending
LAUSD Faces Severe Financial Crisis Amid Declining Enrollment The Los Angeles Unified School District (LAUSD) recently approved its spending plan for the 2025-26 school year, finding itself in a troubling financial situation—$3 billion in the hole compared to its revenue. This crisis stems from a troubling mix of plummeting enrollment, which dropped by 11,000 students […]
Can the holidays lead to compulsive overspending?
One in four people suffers from impulsive spending during the holiday season, according to a recent study. The survey of 2,000 Americans celebrating winter break looked at the challenges and mental health difficulties that respondents say can surface during the holidays. According to respondents, the winter holidays are considered the most financially stressful time of […]